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| Main Author: | |
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| Format: | Artículo científico |
| Language: | en |
| Published: |
Universidad de Antioquia
2018
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| Subjects: | |
| Online Access: | https://www.redalyc.org/articulo.oa?id=155254736002 https://www.redalyc.org/journal/1552/155254736002/ https://www.redalyc.org/journal/1552/155254736002/html/ https://www.redalyc.org/journal/1552/155254736002/155254736002.epub https://www.redalyc.org/journal/1552/155254736002/movil |
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Table of Contents:
- External cycles and commodities in Latin America and the Caribbean: a cointegration analysis with breaks Fernando Delbianco Andrés Fioriti Economía y Finanzas cointegration Latin America External sector structural breaks In this paper, we seek to characterize the relationship between the cyclical behavior of foreign accounts and commodity price indexes for Latin America and the Caribbean. Using several tests of stationarity that allow for the presence of breaks, we conclude that commodity prices are cointegrated with the current accounts in Latin American countries, suggesting that developmentalism plans did not obtain the desired productive diversification and that the region still relies heavily on commodities to determine its foreign position. Another important result supports the findings of Delbianco and Fioriti (2014, 2015) that the region had suffered two sudden stops in the last 60 years, bothdriven by shifts in commodity prices. 2018 artículo científico 0120-2596 https://www.redalyc.org/articulo.oa?id=155254736002 https://www.redalyc.org/journal/1552/155254736002/ https://www.redalyc.org/journal/1552/155254736002/html/ https://www.redalyc.org/journal/1552/155254736002/155254736002.epub https://www.redalyc.org/journal/1552/155254736002/movil 10.17533/udea.le.n88a02 en http://www.redalyc.org/revista.oa?id=1552 Lecturas de Economía application/pdf Universidad de Antioquia Lecturas de Economía (Colombia) Num.88