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Exchange rate, xports and growth: an investigation on the hypothesis of Dutch disease in Brazil

Author

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  • Michele Polline Veríssimo
  • Clesio Lourenço Xavier

Abstract

This paper investigates the hypothesis of Dutch disease in Brazil by the existence of a negative relationship between commodity exports and the real exchange rate, and the effects of export specialization in commodities on the Brazilian economic growth from 1999 to 2010 based on VAR model. The evidences suggested an expressive importance of commodities exports in explaining the real exchange rate changes. Moreover, commodities exports shocks were relevant to explain Brazilian economic growth rate changes, which supports the “curse” of natural resources literature. JEL Classification: F37; F17; O24.

Suggested Citation

  • Michele Polline Veríssimo & Clesio Lourenço Xavier, 2013. "Exchange rate, xports and growth: an investigation on the hypothesis of Dutch disease in Brazil," Brazilian Journal of Political Economy, Center of Political Economy, vol. 33(1), pages 82-101.
    • Handle: RePEc:ekm:repojs:v:33:y:2013:i:1:p:82-101:id:302
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    More about this item

    Keywords

    exports; commodities; exchange rate; growth; Brazil;
    All these keywords.

    JEL classification:

    • F37 - International Economics - - International Finance - - - International Finance Forecasting and Simulation: Models and Applications
    • F17 - International Economics - - Trade - - - Trade Forecasting and Simulation
    • O24 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy

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