Real exchange rate and structural change: theory and empirical evidence
Autor(a) principal: | |
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Data de Publicação: | 2022 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Institucional da UFMG |
Texto Completo: | http://dx.doi.org/10.22201/fe.01851667p.2022.320.79285 http://hdl.handle.net/1843/60356 |
Resumo: | This paper analyses the influence of the real exchange rate (rer) on the productive structure. A contribution of this article is to sys-tematize and advance in the identification of the new transmission mechanisms through which the rer affects the productive structure. We show how these effects can be incorporated into the balance of payments constrained growth model. On the empirical level, the article assesses the association between the rer and structural change. A series of regressions was performed in a panel setting for various countries, using aggregated and sectorial databases. The estimates using the aggregated database suggest that a competitive rer fa-vours manufacturing. Regressions also indicate that a competitive rer is associated with a more diversified and complex productive structure. In turn, the estimates using a sectoral database point out that a competitive rer expands manufacturing activities, and this effect is associated with sectoral particularities |
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2023-10-31T17:45:12Z2023-10-31T17:45:12Z20228132081107http://dx.doi.org/10.22201/fe.01851667p.2022.320.792850185-1667http://hdl.handle.net/1843/60356This paper analyses the influence of the real exchange rate (rer) on the productive structure. A contribution of this article is to sys-tematize and advance in the identification of the new transmission mechanisms through which the rer affects the productive structure. We show how these effects can be incorporated into the balance of payments constrained growth model. On the empirical level, the article assesses the association between the rer and structural change. A series of regressions was performed in a panel setting for various countries, using aggregated and sectorial databases. The estimates using the aggregated database suggest that a competitive rer fa-vours manufacturing. Regressions also indicate that a competitive rer is associated with a more diversified and complex productive structure. In turn, the estimates using a sectoral database point out that a competitive rer expands manufacturing activities, and this effect is associated with sectoral particularitiesEste artigo analisa a influência da taxa de câmbio real (rer) na estrutura produtiva. Uma contribuição deste artigo é sistematizar e avançar na identificação dos novos mecanismos de transmissão através dos quais a tr afeta a estrutura produtiva. Mostramos como estes efeitos podem ser incorporados no modelo de crescimento restrito da balança de pagamentos. No nível empírico, o artigo avalia a associação entre o rer e a mudança estrutural. Uma série de regressões foi realizada em painel para vários países, utilizando bases de dados agregadas e setoriais. As estimativas utilizando a base de dados agregada sugerem que uma situação competitiva favorece a indústria transformadora. As regressões também indicam que uma taxa competitiva está associada a uma estrutura produtiva mais diversificada e complexa. Por sua vez, as estimativas utilizando uma base de dados setorial apontam que uma taxa competitiva expande as atividades industriais, e esse efeito está associado a particularidades setoriaisengUniversidade Federal de Minas GeraisUFMGBrasilFCE - DEPARTAMENTO DE CIÊNCIAS ECONÔMICASInvestigación EconómicaTaxa de câmbioEstrutura produtivaReal exchange rateIndustrializationManufacturing sectorsReal exchange rate and structural change: theory and empirical evidenceinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlehttp://www.revistas.unam.mx/index.php/rie/article/view/79285Hugo Carcanholo Iasco PereiraFabricio Jose Missioinfo:eu-repo/semantics/openAccessreponame:Repositório Institucional da UFMGinstname:Universidade Federal de Minas Gerais (UFMG)instacron:UFMGLICENSELicense.txtLicense.txttext/plain; charset=utf-82042https://repositorio.ufmg.br/bitstream/1843/60356/1/License.txtfa505098d172de0bc8864fc1287ffe22MD51ORIGINALREAL EXCHANGE RATE AND....pdfREAL EXCHANGE RATE AND....pdfapplication/pdf328861https://repositorio.ufmg.br/bitstream/1843/60356/2/REAL%20EXCHANGE%20RATE%20AND....pdf7f26d458bf2b645336f6b8d88fbfbfa7MD521843/603562023-10-31 16:49:35.018oai:repositorio.ufmg.br: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Repositório de PublicaçõesPUBhttps://repositorio.ufmg.br/oaiopendoar:2023-10-31T19:49:35Repositório Institucional da UFMG - Universidade Federal de Minas Gerais (UFMG)false |
dc.title.pt_BR.fl_str_mv |
Real exchange rate and structural change: theory and empirical evidence |
title |
Real exchange rate and structural change: theory and empirical evidence |
spellingShingle |
Real exchange rate and structural change: theory and empirical evidence Hugo Carcanholo Iasco Pereira Real exchange rate Industrialization Manufacturing sectors Taxa de câmbio Estrutura produtiva |
title_short |
Real exchange rate and structural change: theory and empirical evidence |
title_full |
Real exchange rate and structural change: theory and empirical evidence |
title_fullStr |
Real exchange rate and structural change: theory and empirical evidence |
title_full_unstemmed |
Real exchange rate and structural change: theory and empirical evidence |
title_sort |
Real exchange rate and structural change: theory and empirical evidence |
author |
Hugo Carcanholo Iasco Pereira |
author_facet |
Hugo Carcanholo Iasco Pereira Fabricio Jose Missio |
author_role |
author |
author2 |
Fabricio Jose Missio |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Hugo Carcanholo Iasco Pereira Fabricio Jose Missio |
dc.subject.por.fl_str_mv |
Real exchange rate Industrialization Manufacturing sectors |
topic |
Real exchange rate Industrialization Manufacturing sectors Taxa de câmbio Estrutura produtiva |
dc.subject.other.pt_BR.fl_str_mv |
Taxa de câmbio Estrutura produtiva |
description |
This paper analyses the influence of the real exchange rate (rer) on the productive structure. A contribution of this article is to sys-tematize and advance in the identification of the new transmission mechanisms through which the rer affects the productive structure. We show how these effects can be incorporated into the balance of payments constrained growth model. On the empirical level, the article assesses the association between the rer and structural change. A series of regressions was performed in a panel setting for various countries, using aggregated and sectorial databases. The estimates using the aggregated database suggest that a competitive rer fa-vours manufacturing. Regressions also indicate that a competitive rer is associated with a more diversified and complex productive structure. In turn, the estimates using a sectoral database point out that a competitive rer expands manufacturing activities, and this effect is associated with sectoral particularities |
publishDate |
2022 |
dc.date.issued.fl_str_mv |
2022 |
dc.date.accessioned.fl_str_mv |
2023-10-31T17:45:12Z |
dc.date.available.fl_str_mv |
2023-10-31T17:45:12Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/1843/60356 |
dc.identifier.doi.pt_BR.fl_str_mv |
http://dx.doi.org/10.22201/fe.01851667p.2022.320.79285 |
dc.identifier.issn.pt_BR.fl_str_mv |
0185-1667 |
url |
http://dx.doi.org/10.22201/fe.01851667p.2022.320.79285 http://hdl.handle.net/1843/60356 |
identifier_str_mv |
0185-1667 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.ispartof.none.fl_str_mv |
Investigación Económica |
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info:eu-repo/semantics/openAccess |
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openAccess |
dc.publisher.none.fl_str_mv |
Universidade Federal de Minas Gerais |
dc.publisher.initials.fl_str_mv |
UFMG |
dc.publisher.country.fl_str_mv |
Brasil |
dc.publisher.department.fl_str_mv |
FCE - DEPARTAMENTO DE CIÊNCIAS ECONÔMICAS |
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Universidade Federal de Minas Gerais |
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reponame:Repositório Institucional da UFMG instname:Universidade Federal de Minas Gerais (UFMG) instacron:UFMG |
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UFMG |
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UFMG |
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Repositório Institucional da UFMG |
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