The macroeconomic determinants of trade openness in Latin American countries: A panel data analysis.

Q2 Pharmacology, Toxicology and Pharmaceutics

F1000Research Pub Date : 2025-02-17 eCollection Date: 2024-01-01 DOI:10.12688/f1000research.153690.3

Rogger Orlando Morán Santamaría, Yefferson Llonto Caicedo, Francisco Eduardo Cúneo Fernández, Lizana Guevara Nikolays Pedro, Castro Mejía Percy Junior, Milagros Judith Pérez Pérez, Lindon Vela Meléndez, Moises Elias Montenegro López

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引用次数: 0

Abstract

Background: Trade openness shows a positive impact on economic growth, supported by economic theory, and export diversification and economic complexity show a positive dynamic in trade openness in the world; however, a specificity is generated in South American countries. Therefore, the objective of the research is to analyse the macroeconomic determinants of trade openness in Latin American countries.

Methods: The research approach was quantitative and explanatory using panel data methodology from the databases of the World Bank, Harvard University and the Economic Commission for Latin America and the Caribbean for the period 2000-2020.

Results: The fixed effects panel data model showed that the variables that had a negative impact on trade openness were GDP, the economic complexity index and the logistic performance index, while the variables that had a positive impact were exports of high-tech products (a proxy for innovation), exports, imports, research and development expenditure and interregional trade in goods.

Conclusions: Therefore, during the analysis period of 2000-2020 in South America, based on the panel data analysis under fixed effects, a total of 8 countries had a negative impact on trade openness, and only the economies of Chile, French Guiana, and Brazil had a positive impact on trade openness; these economies are characterized by their better performance in the economic complexity index, their higher percentage of budget for research and development expenses, and their trade policies oriented towards the industrialization of their value-added products.

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拉丁美洲国家贸易开放的宏观经济决定因素：面板数据分析

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来源期刊

F1000Research Pharmacology, Toxicology and Pharmaceutics-Pharmacology, Toxicology and Pharmaceutics (all)

CiteScore

5.00

自引率

0.00%

发文量

1646

审稿时长

1 weeks

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