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Comportamiento del tipo de cambio real y desempeño económico en México

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  • Antonio Ávalos Huerta

    (Universidad Estatal de Oklahoma (USA) y Universidad Popular Autónoma del Estado de Puebla (Mexico).)

  • Fausto Hernández Trillo

    (Investigador, Departamento de Economía, CIDE. México, D.F. Mexico.)

Abstract

An ARCH (Autoregressive Conditional Heteroscedasticity) model is used to obtain the variances over time for the real exchange rata (RER) (peso/dollar) in Mexico. Then a model is constructed to establish the relationship between the RER variability and exports and Mexican GDP, respectively. A negative relationship is found which suggests that not only the level but the stability of the RER is important in explaining economic performance in an open economy. Furthermore, an alternative measure of RER misalignment is developed which, in turn, is shown to be negatively related with economic performance in Mexico. These results suggest that more stable exchange rate regimes should be adopted to create an environment suitable for economic growth.

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Bibliographic Info

Article provided by in its journal Economia Mexicana NUEVA EPOCA.

Volume (Year): IV (1995)
Issue (Month): 2 (July-December)
Pages: 239-263

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Handle: RePEc:emc:ecomex:v:4:y:1995:i:2:p:239-263

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Cited by:
  1. Fausto Hernández Trillo & Alejandro Villagómez Amezcua, 2000. "La estructura de la deuda pública en México: Lecciones y perspectivas," Research Department Publications 3104, Inter-American Development Bank, Research Department.

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