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The alleged countercyclical nature of Argentina's exports of manufactures

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  • Elio Londero

Abstract

It has been suggested that, during the 1970s and 1980s, excess capacity played an important role in the performance of Latin American exports of manufactures. This paper shows that countercyclical factors should be expected for most exports, and submits the hypothesis that these effects are more important for a limited subset of products with special characteristics. Econometric testing of Argentine export functions could not reject this hypothesis. The paper ends by discussing the implications for export modelling and policy analysis.

Suggested Citation

  • Elio Londero, 2001. "The alleged countercyclical nature of Argentina's exports of manufactures," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 10(2), pages 151-173.
  • Handle: RePEc:taf:jitecd:v:10:y:2001:i:2:p:151-173
    DOI: 10.1080/09638190110039037
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    References listed on IDEAS

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    1. repec:taf:jdevst:v:32:y:1996:i:4:p:581-601 is not listed on IDEAS
    2. Sofronis K. Clerides & Saul Lach & James R. Tybout, 1998. "Is Learning by Exporting Important? Micro-Dynamic Evidence from Colombia, Mexico, and Morocco," The Quarterly Journal of Economics, Oxford University Press, vol. 113(3), pages 903-947.
    3. Barros, Alexandre Rands & Amazonas, Analice, 1996. "Manufactured exports from Brazil: determinants and consequences," Revista Brasileira de Economia - RBE, FGV/EPGE - Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil), vol. 50(1), January.
    4. Londero, Elio, 1997. "Trade Liberalization with a Fixed Exchange Rate," MPRA Paper 85340, University Library of Munich, Germany.
    5. Elio Londero & Simón Teitel, 1996. "Industrialisation and the factor content of Latin American exports of manufactures," Journal of Development Studies, Taylor & Francis Journals, vol. 32(4), pages 581-601.
    6. Andrew B. Bernard & J. Bradford Jensen, 1999. "Exporting and Productivity," NBER Working Papers 7135, National Bureau of Economic Research, Inc.
    7. Eliana A. Cardoso & Rudiger Dornbusch, 1980. "Three Papers on Brazilian Trade and Payments," NBER Working Papers 0541, National Bureau of Economic Research, Inc.
    8. Alexandre Rands & Analice Amazonas, 1993. "Manufacturing Exports from Brazil: Determinants and Consequences," Working Papers 11, Datamétrica Consultoria Econômica, revised 1993.
    9. Hofman, Andre A, 1992. "Capital Accumulation in Latin America: A Six Country Comparison for 1950-89," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 38(4), pages 365-401, December.
    10. Goldstein, Morris & Khan, Mohsin S., 1985. "Income and price effects in foreign trade," Handbook of International Economics,in: R. W. Jones & P. B. Kenen (ed.), Handbook of International Economics, edition 1, volume 2, chapter 20, pages 1041-1105 Elsevier.
    11. Teitel, Simon & Thoumi, Francisco E, 1986. "From Import Substitution to Exports: The Manufacturing Exports Experience of Argentina and Brazil," Economic Development and Cultural Change, University of Chicago Press, vol. 34(3), pages 455-490, April.
    12. Teitel, Simon & Colman Sercovich, Francisco, 1984. "Latin America," World Development, Elsevier, vol. 12(5-6), pages 645-660.
    13. Elio Londero, 2005. "Shadow Pricing Rules for Partially Traded Goods," Public Economics 0508008, EconWPA.
    14. Azpiazu, Daniel & Kosacoff, Bernardo, 1989. "La industria argentina: desarrollo y cambios estructurales," Oficina de la CEPAL en Buenos Aires (Estudios e Investigaciones) 28585, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    15. Peter Kennedy, 2003. "A Guide to Econometrics, 5th Edition," MIT Press Books, The MIT Press, edition 5, volume 1, number 026261183x, January.
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    Cited by:

    1. Elio Londero, 2003. "Trade liberalization and adjustment in Argentina," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 12(3), pages 225-246.

    More about this item

    Keywords

    Exports; Countercyclical Behaviour; Manufactures; Price Elasticity; Argentina; Latin America;

    JEL classification:

    • F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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