Mexicos Integration Into Nafta Markets A View From Sectoral Real Exchange Rates And Transaction Costs

Author : Rodolphe Blavy
Publisher : INTERNATIONAL MONETARY FUND
ISBN 13 : 9781451869835
Total Pages : 25 pages
Book Rating : 4.35/5 ( download)

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Download or read book Mexico's Integration into NAFTA Markets: A View from Sectoral Real Exchange Rates and Transaction Costs written by Rodolphe Blavy and published by INTERNATIONAL MONETARY FUND. This book was released on 2008-05-01 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: A self-exciting threshold autoregressive model is used to measure transaction costs that may explain relative price differentials and nonlinearities in the behavior of sectoral real exchange rates across Mexico, Canada and the U.S. Interpreting price threshold bands as transactions costs, we find evidence that Mexico still face higher transaction costs than their developed counterparts, even though trade liberalization lowers relative price differentials between countries. The distance between countries and nominal exchange rate volatility are found to be determinants of transaction costs that limit price convergence. Other factors-including weak domestic competition and transportation-are also likely to be important.

Author : Luciana Juvenal
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.14/5 ( download)

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Download or read book Mexico's Integration Into NAFTA Markets written by Luciana Juvenal and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a self-exciting threshold autoregressive model, we confirm the presence of nonlinearities in sectoral real exchange rate (SRER) dynamics across Mexico, Canada and the US in the pre-NAFTA and post-NAFTA periods. Measuring transaction costs using the estimated threshold bands, we find evidence that Mexico still faces higher transaction costs than their developed counterparts. Trade liberalization is associated with reduced transaction costs and lower relative price differentials among countries. Other determinants of transaction costs are distance and nominal exchange rate volatility. Our results show that the half-lives of SRERs shocks, calculated by Monte Carlo integration, imply much faster adjustment in the post-NAFTA period.

Author : Mr.Ayhan Kose
Publisher : International Monetary Fund
ISBN 13 : 1451847971
Total Pages : 50 pages
Book Rating : 4.70/5 ( download)

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Download or read book How Has Nafta Affected the Mexican Economy? Review and Evidence written by Mr.Ayhan Kose and published by International Monetary Fund. This book was released on 2004-04-01 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a comprehensive assessment of the impact of NAFTA on growth and business cycles in Mexico. The effect of the agreement in spurring a dramatic increase in trade and financial flows between Mexico and its NAFTA partners, and its impact on Mexican economic growth and business cycle dynamics, are documented with reference both to stylized facts and recent empirical research. The paper concludes by drawing lessons from Mexico's NAFTA experience for policymakers in developing countries. The foremost of these is that in an increasingly globalized trading system, bilateral and regional free trade arrangements should be used to accelerate, rather than postpone, needed structural reform.

Author : Mary E. Burfisher
Publisher : International Monetary Fund
ISBN 13 : 1498303285
Total Pages : 34 pages
Book Rating : 4.86/5 ( download)

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Download or read book NAFTA to USMCA: What is Gained? written by Mary E. Burfisher and published by International Monetary Fund. This book was released on 2019-03-26 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States – Mexico – Canada Agreement (USMCA) was signed on November 30, 2018 and aims to replace and modernize the North-American Free Trade Agreement (NAFTA). This paper uses a global, multisector, computable-general-equilibrium model to provide an analytical assessment of five key provisions in the new agreement, including tighter rules of origin in the automotive, textiles and apparel sectors, more liberalized agricultural trade, and other trade facilitation measures. The results show that together these provisions would adversely affect trade in the automotive, textiles and apparel sectors, while generating modest aggregate gains in terms of welfare, mostly driven by improved goods market access, with a negligible effect on real GDP. The welfare benefits from USMCA would be greatly enhanced with the elimination of U.S. tariffs on steel and aluminum imports from Canada and Mexico and the elimination of the Canadian and Mexican import surtaxes imposed after the U.S. tariffs were put in place.

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
ISBN 13 : 1451959540
Total Pages : 19 pages
Book Rating : 4.43/5 ( download)

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Download or read book IMF Research Bulletin, December 2008 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2008-12-11 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: December 2008: IMF research summaries on global herding in financial markets (by Marco Cipriani) and on fiscal decentralization (by Lusine Lusinyan); article on the experiences of IMF staff at the Nobel Laureate Meetings in Lindau, Germany (by Chris Crowe); listing of visiting scholars at the IMF during August–December 2008; listing of contents of Vol. 55 No. 4 of IMF Staff Papers; listing of recent IMF Working Papers; listing of recent external publications by IMF staff; and a Call for Papers for an upcoming conference on structural reforms.

Author : Luis Serven
Publisher : World Bank Publications
ISBN 13 : 0821383744
Total Pages : 432 pages
Book Rating : 4.42/5 ( download)

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Download or read book Lessons from NAFTA written by Luis Serven and published by World Bank Publications. This book was released on 2004-11-15 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyzing the experience of Mexico under the North American Free Trade Agreement (NAFTA), 'Lessons from NAFTA' aims to provide guidance to Latin American and Caribbean countries considering free trade agreements with the United States. The authors conclude that the treaty raised external trade and foreign investment inflows and had a modest effect on Mexico's average income per person. It is likely that the treaty also helped achieve a modest reduction in poverty and an improvement in job quality. This book will be of interest to scholars and policymakers interested in international trade and development.

Author :
Publisher :
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.26/5 ( download)

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Download or read book Review written by and published by . This book was released on 2009 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Joseph F. Francois
Publisher : DIANE Publishing
ISBN 13 : 0788124099
Total Pages : 64 pages
Book Rating : 4.99/5 ( download)

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Download or read book Economy-Wide Modeling of the Economic Implications of an FTA with Mexico and a NAFTA with Canada and Mexico (Summary) written by Joseph F. Francois and published by DIANE Publishing. This book was released on 1996-11 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study is based on linking a 78-sector U.S. model with a 74-sector Mexican model and determines the effects of the free trade agreement (FTA) with Mexico and a NAFTA with Canada and Mexico on employment, production, prices, exports, and imports in all sectors. Charts and tables.

Author :
Publisher :
ISBN 13 :
Total Pages : 218 pages
Book Rating : 4.10/5 ( download)

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Download or read book IMF Research Bulletin written by and published by . This book was released on 2004 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Terry Lee Anderson
Publisher : San Francisco : Pacific Research Institute for Public Policy
ISBN 13 :
Total Pages : 124 pages
Book Rating : 4.60/5 ( download)

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Download or read book NAFTA and the Environment written by Terry Lee Anderson and published by San Francisco : Pacific Research Institute for Public Policy. This book was released on 1993 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: Will NAFTA harm the earth? NAFTA's environmental impact, explored in detailed.