Detalles del proyecto
Descripción
This research will contrast whether the international trade and terms of trade has had a significant impact on Colombian GDP growth, even when it is well known that Colombian economy does not rank among the most open in the region. The relationship between economic growth and the external sector has been shown by Thirlwall’s ‘balance-of-payments-constrained growth’ (BPCG) model that highlights the role of demand for exports in economic growth. Thirlwall and Hussain’s expanded version of this model included external financing and terms of trade alongside exports as factors that could relax or restrict the balance of payments constraints in the short and medium-term. The BPCG model might be applied to countries whose economic growth might be constrained by the balance of payment situation. To the best of our knowledge, there is not a BPCG application for Colombia. In this proprosed research the BPCG model will be used to support the analysis of the trade-growth links from asian economies to Colombia. This result will allow us to measure the possible future dependency of Colombian growth to asia and forecast and simulate different scenarios for medium term. The actual behaviour and future potential of Colombia and asia relations is conditioned by previous macroeconomic situation, foreign trade policy, trade agreements and development strategies of each country, therefore the research will also need to analyse and compare all those dimensions
Estado | Finalizado |
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Fecha de inicio/Fecha fin | 02/02/13 → 16/12/13 |
Estado del Proyecto
- Terminado
Huella digital
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