PRODUCTIVITY AND REGIONAL TRADE, THE RELATIONSHIP IN SOUTH AMERICA

Susana Herrero-Olarte

Applied Econometrics and International Development, 2024, vol. 24, issue 1, 37-56

Abstract: The present study describes South American productivity through an international trade approach. One of the main aspects of the study is to understand if the average productivity of the region increases when exporting manufactured goods to a determined region rather than other. Based on previous works, it also analyzes the relationship between productivity and wellness using a GDP per capita approach. Moreover, the results of the analyses are meant to be applied in a regional integration context to serve as a reference for the supranational organisms. Using a time series composed of Total Factor Productivity (TFP) data for the period 1960 - 2011, the study applies a linear regression model to calculate the impact that international trade to different regions has on productivity. The results indicate that intraregional trade between South American countries has an important impact on the average productivity of the region. This calls for the adoption of trade integration policies, formulated by the government, that encourage export dynamism, taking into account geographic and productivity factors.

El presente estudio describe la productividad sudamericana a través de un enfoque de comercio internacional. Uno de los principales aspectos del estudio es comprender si la productividad media de la región aumenta cuando se exportan productos manufacturados a una región determinada en lugar de a otra. Sobre la base de trabajos anteriores, también analiza la relación entre productividad y bienestar utilizando un enfoque del PIB per cápita. Además, los resultados de los análisis deben aplicarse en un contexto de integración regional que sirva de referencia para los organismos supranacionales. Mediante una serie de tiempo compuesta por datos de la Productividad Total de Factores (PTF) para el periodo de 1960 – 2011, el estudio aplica un modelo de regresión lineal para calcular el impacto que tiene el comercio internacional en diferentes regiones sobre la productividad. Los resultados indican que el comercio intrarregional entre países sudamericanos tiene un impacto importante. Este resultado insta a adoptar politicas de integracion comercial, formuladas desde el gobierno, que incentiven la dinamica de las exportaciones tomando en cuenta los factores geograficos y de productividad.

Keywords: Regionalismo abierto; Nueva integración; Comercio intrarregional; Integración comparada; UNASUR. Open regionalism; New integration; Intraregional trade; Compared integration; UNASUR. (search for similar items in EconPapers)
JEL-codes: F13 F40 O24 O40 O54 (search for similar items in EconPapers)
Date: 2024
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