Trade Liberalisation, the Peso, and Mexico's Commodity Trade Flows with the United States
Mohsen Bahmani-Oskooee () and
Scott Hegerty ()
Journal of Development Studies, 2009, vol. 45, issue 5, 693-725
We assess the effects of real peso devaluations, as well as the effects of GATT and NAFTA, on Mexico's in-payments and out-payments with the United States for 102 industries. We find that relatively few trade flows are sensitive to changes in the real exchange rate, probably due to production-sharing and intra-industry trade, but devaluations affect Mexican imports more than exports. Trade liberalisation has had a larger impact, particularly on imports of intermediate goods and exports of certain manufactures. Many affected export industries are ones that have previously been shown to have economies of scale.
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Persistent link: https://EconPapers.repec.org/RePEc:taf:jdevst:v:45:y:2009:i:5:p:693-725
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