HOW THE COMPOSITION OF EXPORTS IS AFFECTED BY THE EXCHANGE RATE VOLATILITY IN BRAZIL
Given the adoption of a floating exchange rate, after Bretton Woods’ monetary system collapse, many countries started to face an increase on exchange ratevariability, with several consequences for their economies. The main objective of thisstudy consists on analyzing the effects of the exchange rate...
| Autores: | , |
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| Tipo de recurso: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 2021 |
| País: | Brasil |
| Institución: | Universidade Federal do Rio Grande do Sul (UFRGS) |
| Repositorio: | Análise Econômica (Online) |
| Idioma: | portugués |
| OAI Identifier: | oai:seer.ufrgs.br:article/84331 |
| Acceso en línea: | https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/84331 |
| Access Level: | acceso abierto |
| Palabra clave: | Volatilidade Taxa de Câmbio Composição Comercial Exportações setoriais F1 F14 F19 Volatility Exchange rate Trade composition Sectoral exports |
| Sumario: | Given the adoption of a floating exchange rate, after Bretton Woods’ monetary system collapse, many countries started to face an increase on exchange ratevariability, with several consequences for their economies. The main objective of thisstudy consists on analyzing the effects of the exchange rate volatility on the Braziliantrade in a sectoral level, saying it differently, on the composition of Brazilian exports. For this purpose, the volume exported from Brazil to its main trading partners from 2001 to 2017 is considered, and, subsequently, the products are classified into three categories (basic, semi-manufactured and manufactured). From such a grouping, the composition of the exports is defined by the share of each product category in the total volume exported to the respective partners. Additionally, this variable was used as dependent in a gravity trade model, which was estimated by a pooled OLS, panel econometrics and PPML. Main results indicate that the exchange rate volatility has an adverse effect only on manufactured sector, with positive impact on exports of basic products and no significant impact on semi-manufactured exports. |
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