La restricción externa de México y la composición del comercio en un enfoque bilateral

Translated title of the contribution: Mexico’s external restriction and trade composition: a bilateral approach

Carlos A. Carrasco, Edgar Demetrio Tovar García

Research output: Contribution to journalArticlepeer-review

Abstract

Recent studies have questioned the explanatory power of Thirlwall’s Law in the case of Mexico and other developing countries, due to its omission of foreign trade specialization and use of time series for empirical evaluation. In response to these criticisms, this article estimates income elasticities of export and import demand using dynamic panel models in a bilateral framework between Mexico and 39 trading partners, including the composition of exports and imports as key regressors. Once controlled for the composition of international trade, the results from the estimates using the weak version of Thirlwall’s Law accurately predict the economic growth observed in Mexico between 1990 and 2016.
Translated title of the contributionMexico’s external restriction and trade composition: a bilateral approach
Original languageSpanish
Pages (from-to)113-140
Number of pages28
JournalProblemas del Desarrollo
Volume52
Issue number204
Publication statusPublished - 2021

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