The Impact of Trade Liberalisation on the Trade Balance, the Balance of Payments and Economic Growth: The Case of Mexico

Topics:
GATT,
Import Export,
WTO
Tags:
Finance,
Mexico,
Operational Accounting,
Payment,
University Of Kentuckty
Source:
University of Kentuckty

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Overview: This paper examines the impact of trade liberalisation on the trade balance and balance of payments in Mexico. Two events are identified as being important in this regard. The first one is when trade liberalisation started in a serious way in 1985 and Mexico became a member of GATT in 1986. The second event is related to facts involved in Mexico's accession to NAFTA in 1994. Complete trade balance and balance of payments functions, starting from their simple expression, are specified. The models are then extended to include liberalisation indicators, defined as shift dummy variables. The findings have important policy implications for the credit-worthiness of the country, its ability to borrow, and the sustainability of growth.

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Format: PDF | Size: 371KB | Date: Sep 2003 | Pages: 52

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