Bibliographic citations
Muñoz, W., (2021). Caso de estudio: efectos de los términos de intercambio y la devaluación en el crecimiento económico de Perú y Chile 1950-2019 [Universidad de Lima]. https://hdl.handle.net/20.500.12724/15060
Muñoz, W., Caso de estudio: efectos de los términos de intercambio y la devaluación en el crecimiento económico de Perú y Chile 1950-2019 []. PE: Universidad de Lima; 2021. https://hdl.handle.net/20.500.12724/15060
@misc{renati/1435019,
title = "Caso de estudio: efectos de los términos de intercambio y la devaluación en el crecimiento económico de Perú y Chile 1950-2019",
author = "Muñoz Marticorena, William Amadeo",
publisher = "Universidad de Lima",
year = "2021"
}
The economies of Peru and Chile are relatively small, open, and with an acceptable level of debt. The shocks derived from variations in the terms of trade and the real exchange rate generate volatility. Moreover, if the high participation of minerals in the export baskets of these countries is considered. Both economies differ in endowments of resources such as human capital and physical capital, and capabilities such as total factor productivity. Chile is a high-income country and Peru is an upper-middle one. It is intended by applying ordinary least squares and restricted least squares models to estimate the effects of the terms of trade and devaluation on economic growth. This work is motivated by identifying the trajectory of the effects and defining a framework of policy recommendations. The main findings include that, in the case of Peru, both the terms of trade and the devaluation of the real exchange rate show a positive and significant effect on economic growth in both models. As for Chile, the positive and significant relationship was identified for the terms of trade and economic growth, not for the devaluation of the real exchange rate.
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