RT info:eu-repo/semantics/workingPaper
T1 Co-movements in terms of trade volatility in land-abundant countries
A1 Mattheus, María Virginia
A1 Martín Díaz Cafferata, Alberto
K1 Terms of trade
K1 Volatility
K1 Heteroskedasticity
K1 Argentina
K1 Australia
K1 New Zealand
K1 F10
K1 F13
K1 F14
K1 Economía
K1 Economics
K1 Sociología
K1 Sociology
AB 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.
PB Universidad de Alcalá. Instituto Universitario de Análisis Económico y Social
YR 2011
FD 2011
LK http://hdl.handle.net/10017/10145
UL http://hdl.handle.net/10017/10145
LA eng
DS MINDS@UW
RD 05-dic-2023