Regional exports and imbalances: a portfolio analysis
This paper estimates the impact of regional export structures on the risk andreturn of regional export portfolios. The Markowitz model is used to assess the risk andreturn of export products structures of three Brazilian economic regions. More specifically,the paper tests the hypothesis that economi...
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| Tipo de recurso: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 1992 |
| País: | Brasil |
| Institución: | EDITORA 34 |
| Repositorio: | Revista de Economia Política |
| Idioma: | portugués |
| OAI Identifier: | oai:ojs2.centrodeeconomiapolitica.org:article/1407 |
| Acceso en línea: | https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1407 |
| Access Level: | acceso abierto |
| Palabra clave: | Exports regional unbalances Markowitz model risk Exportações desequilíbrios regionais modelo Markowitz risco |
| Sumario: | This paper estimates the impact of regional export structures on the risk andreturn of regional export portfolios. The Markowitz model is used to assess the risk andreturn of export products structures of three Brazilian economic regions. More specifically,the paper tests the hypothesis that economic regions with highly diversified export structurewill observe more efficient export portfolios than those with only moderate or no portfoliodiversification. In order to test this hypothesis, we used the export structures of threeBrazilian economic regions: the South, the Southeast and the Northeast. The results showthat portfolio theory can provide policymakers with an alternative way of assessing exportearnings instability and export promotion strategies. JEL Classification: F1; F3. |
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