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dc.creator Ibarra Niño, Carlos Alberto
dc.date.issued 2018-10-05
dc.identifier.issn 2196-436X
dc.identifier.uri http://hdl.handle.net/11651/3218
dc.description Real exchange rate, capital accumulation, investment determinants, asymmetric effects, non-linear ARDL model, Mexico
dc.description.abstract The paper studies the effects of the real exchange rate (RER) on capital accumulation in Mexico in the period since the late 1980s. By testing for the existence of potential asymmetries, the paper seeks to clarify some of the controversies surrounding the subject. It shows the RER’s long-run effects to be qualitatively symmetric but quantitatively asymmetric; thus, while appreciations slow accumulation, depreciations accelerate it, but to a lesser degree. Depreciations, moreover, have dynamically asymmetric effects, expansionary in the long run but contractionary in the short run. The effects are derived from non-linear autoregressive distributed lag models for the private capital accumulation rate in the manufacturing, tradables, and non-tradables sectors, and for the aggregate level of private fixed investment. The results help to reconcile the contradictory conclusions reached by previous studies of Mexico, and to clarify the potential role of the real exchange rate as either barrier or engine of growth.
dc.format application/PDF
dc.language.iso eng
dc.publisher Centro de Investigación y Docencia Económicas
dc.relation.ispartof Latin American Economic Review, volumen 27, número 1, octubre de 2018
dc.rights La revista Latin American Economic Review autoriza a poner en acceso abierto de conformidad con las licencias CREATIVE COMMONS, aprobadas por el Consejo Académico Administrativo del CIDE, las cuales establecen los parámetros de difusión de las obras con fines no comerciales. Lo anterior sin perjuicio de los derechos morales que corresponden a los autores.
dc.source 2196-436X
dc.title Asymmetric real‑exchange‑rate effects on capital accumulation: evidence from non‑linear ARDL models for Mexico
dc.type Artículo
dc.accessrights Acceso abierto
dc.recordIdentifier 000003218
dc.rights.license Creative Commons Reconocimiento-NoComercial-SinObraDerivada 4.0 International CC BY-NC-ND
dc.identifier.citation En: Latin American Economic Review, volumen 27, número 1, octubre de 2018
dc.identifier.doi https://doi.org/10.1186/s40503-018-0057-x
dc.identifier.url https://link.springer.com/article/10.1186/s40503-018-0057-x


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