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Launching Export Accelerations in Latin America and the World

Author

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  • Ms. Valerie Cerra
  • Miss Martha Tesfaye Woldemichael

Abstract

This paper investigates the determinants of sustained accelerations in goods and services exports. Strong predictors of export takeoffs include domestic and structural indicators such as lower macroeconomic uncertainty, improved quality of institutions, a depreciated exchange rate, and agricultural reforms. Lower tariffs, participation in global value chains and diversification also contribute to initiating export accelerations. The paper also finds heterogeneity, with somewhat different triggers for Latin America and the Caribbean, as well as for goods and services. Finally, despite the lack of a robust effect on output, export surges tend to be associated with lower post-acceleration unemployment and income inequality.

Suggested Citation

  • Ms. Valerie Cerra & Miss Martha Tesfaye Woldemichael, 2017. "Launching Export Accelerations in Latin America and the World," IMF Working Papers 2017/043, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2017/043
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    Cited by:

    1. Ms. Kimberly Beaton & Ms. Valerie Cerra & Metodij Hadzi-Vaskov, 2021. "Trade, Jobs, and Inequality," IMF Working Papers 2021/178, International Monetary Fund.
    2. International Monetary Fund, 2017. "Cluster Report: Trade Integration in Latin America and the Caribbean," IMF Staff Country Reports 2017/066, International Monetary Fund.
    3. Sosso Feindouno & Michael Goujon, 2019. "Human Assets Index: Insights from a Retrospective Series Analysis," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 141(3), pages 959-984, February.
    4. International Monetary Fund, 2017. "Brazil: Selected Issues," IMF Staff Country Reports 2017/216, International Monetary Fund.
    5. Valerie Cerra & Alfredo Cuevas & Carlos Goes & Izabela Karpowicz & Troy Matheson & Issouf Samake & Svetlana Vtyurina, 2017. "Determinants of Infrastructure and Its Financing," Emerging Economy Studies, International Management Institute, vol. 3(2), pages 113-126, November.

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