%0 Journal Article 
%A Mattheus, María Virginia
%A Martín Díaz Cafferata, Alberto
%T Co-movements in terms of trade volatility in land-abundant countries
%D 2011
%U http://hdl.handle.net/10017/10145
%X We conjecture that extreme land abundant endowment constitutes a structural restriction driving sectoral specialization and terms of trade volatility. We estimate and compare several volatility indicators for Argentina, Australia and New Zealand in 870-2009 finding co-movements, structural breaks in variability, significant cross correlations between TOT cycles, and in some cases heteroskedasticity. If “first nature” land-abundance is a long-term structural restriction, development policies for this type of economies must balance reductions in TOT volatility through export diversification (ay rising costs) and a combination of efficiency improvements and internal flexibility to manage volatility effects.

%K Terms of trade
%K Volatility
%K Heteroskedasticity
%K Argentina
%K Australia
%K New Zealand
%K F10
%K F13
%K F14
%K Economía
%K Economics
%K Sociología
%K Sociology
%~ Biblioteca Universidad de Alcala