Evolución de la demanda de importaciones de México: 1940-2009
AbstractThe purpose of this paper is to specify and estimate an aggregate import demand function for México, and to discuss the implications of the results. Estimation is based on quarterly data for real imports, real GDP and relative prices over the period 1940-2009. In our empirical analysis of the aggregate import demand function for México, cointegration and error correction technique have been used. This analysis suggests that a cointegrating relationship exists between these variables. In our study we got more than one cointegrating relationship among these variables. More than one cointegrating relationship means more stability in the system. We also found that a structural change happen after 1982 so we estimated two demand functions one for each period. Our econometric estimates of the aggregate import demand function for México suggest that import demand in the second period is overwhelming dominated by GDP and weekly affected by relative prices. This turns fiscal and monetary policies infective to regulate the business cycle.
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Bibliographic InfoPaper provided by El Colegio de México, Centro de Estudios Económicos in its series Serie documentos de trabajo del Centro de Estudios Económicos with number 2010-03.
Date of creation: Dec 2010
Date of revision:
México; importaciones; exportaciones; propensión a importar;
Find related papers by JEL classification:
- F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General
- F14 - International Economics - - Trade - - - Empirical Studies of Trade
- F15 - International Economics - - Trade - - - Economic Integration
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