Exportaciones, términos de intercambio y ciclos de crecimiento económico de México y Brasil

Abstract

Six years ago we published a comparative study on the influence of terms of trade, exports and import-income elasticity on the growth rate of real GDP in Mexico and Brazil. Given that these statistical variables have only been registered up until 2002, we felt it appropriate to analyze their contrasting behav- ior over the last ten years. This was the motivation behind our research and our aim to bring the topic up-to-date. The results indicate firstly that Mexico exports more than Brazil but experiences less growth. Secondly, exports more than terms of trade, are the variable that explain Brazil’s growth. Thirdly, the import-income elasticity estimated through Thirlwall’s model is higher in Mexico than in Brazil