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El mercado de vivienda en Barranquilla y el sector externo de la economía

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  • Néstor Garza Puentes
  • Rafael Tovar Vanegas

Abstract

This document deals with a theoretical and empirical approach to the relation between housing prices in Barranquilla and the external sector of the Colombian economy in the period 1990-2005. The freetrade must exert a positive impact on prices (valorization) after the specialization and consumption substitution effects attached to it, because of the associated non-tradables valorization with free trade. The analysis allows us to consider that capital account movements are bigger than those referred to the current account, which implies that there should be a relation between housing prices per m2 and Real Exchange Rate Index. The result of a more precise assessment of this relation was no conclusive, indeed; particularly if we take into account the geographical aggregation process applied to the information. Este artículo explora a nivel teórico y empírico la relación entre el comportamiento del sector externo de la economía y el precio de vivienda en la ciudad de Barranquilla durante el período 1990-2005. Se enuncia que el impacto del comercio exterior libre, en términos de especialización y modificación del patrón de consumo, debe valorizar el precio de las mercancías no transables, y puesto que la vivienda, debido a su dependencia territorial del suelo urbano, es la mercancíano-transable por definición, su precio debería aumentar relativamente durante el período de apertura.El análisis realizado establece que los movimientos en la cuenta de capitales resultan mayores que los movimientos de la cuenta corriente y que, por consiguiente, debería encontrarse una relaciónestrecha entre el Índice de la Tasa de Cambio Real y el precio de la vivienda por m2.El resultado de una evaluación precisa a dicha estimación resultó, sin embargo, ambigua, y más si se tiene en cuenta el carácter agregado en términos geográficos de la información utilizada.

Suggested Citation

  • Néstor Garza Puentes & Rafael Tovar Vanegas, 2009. "El mercado de vivienda en Barranquilla y el sector externo de la economía," Revista de Economía del Caribe 7125, Universidad del Norte.
  • Handle: RePEc:col:000382:007125
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    File URL: http://rcientificas.uninorte.edu.co/index.php/economia/article/viewFile/566/307
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    References listed on IDEAS

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    1. Bela Balassa, 1964. "The Purchasing-Power Parity Doctrine: A Reappraisal," Journal of Political Economy, University of Chicago Press, vol. 72(6), pages 584-584.
    2. Bhagwati, Jagdish N, 1984. "Why Are Services Cheaper in the Poor Countries?," Economic Journal, Royal Economic Society, vol. 94(374), pages 279-286, June.
    3. Bardhan, Ashok Deo & Edelstein, Robert H. & Leung, Charles, 2004. "A note on globalization and urban residential rents," Journal of Urban Economics, Elsevier, vol. 56(3), pages 505-513, November.
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    Cited by:

    1. Nestor Garza & Colin Lizieri, 2019. "An empirical approach to urban land monopoly: A case study of the city of Barranquilla, Colombia," Urban Studies, Urban Studies Journal Limited, vol. 56(10), pages 1931-1950, August.
    2. Gastón Ballut Dajud & Néstor Garza, 2015. "Segmentación inmobiliaria en una ciudad intermedia del caribe colombiano: el caso de Sincelejo," Revista de Economía del Caribe 14785, Universidad del Norte.

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    More about this item

    Keywords

    Real-estate markets; international macroeconomics; international trade.Mercados inmobiliarios; macroeconomía internacional; comercio exterior.;
    All these keywords.

    JEL classification:

    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
    • F11 - International Economics - - Trade - - - Neoclassical Models of Trade

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