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Relative prices and international competitiveness

Author

Listed:
  • Ruben D. Almonacid

    (Ph.D. em Economia pela Universidade de Chicago e Livre-Docente e ex-professor da Faculdade de Economia e Administração da Universidade de São Paulo (FEA-USP), São Paulo/SP, Brasil.)

  • Gabriel A. Scrimini

    (M.A. em Economia pelo Centro de Estudios Macroeconômicos da Argentina (CEMA) e G.C.S.S. em Finanças pela Universidade de Stanford.)

Abstract

In the last few years, Brazil has seen its trade balance deteriorate significantly.Although some people defended these results as a necessary ingredient of the stabilizationand growth process now in course, the fact that a similar experience, lived by Mexico, endedup in a severe debt crisis in December 1994, represents a serious warning. Trying to differentiatethe two cases some people have argued that the Mexican difficulties originated in anincorrect political transition. On the other hand, this paper suggests that in both cases, thereis a variable indicative of economic incentives, namely “the relative price of home and tradablegoods”, that could explain the behaviour of the trade balance. Regressions estimatedfor the two countries document this conclusion. JEL Classification: F14; F60.

Suggested Citation

  • Ruben D. Almonacid & Gabriel A. Scrimini, 1997. "Relative prices and international competitiveness," Brazilian Journal of Political Economy, Center of Political Economy, vol. 17(2), pages 165-171, April.
    • Handle: RePEc:ekm:repojs:v:17:y:1997:i:2:id:96029
    DOI: 10.1590/0101-31571997-1036
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    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F60 - International Economics - - Economic Impacts of Globalization - - - General

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