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Trade elasticities revisited: empirical evidence from European industry-level exports to BRIC countries.

Ano de publicação: 2.015 Publicação: Bangalore, Anais Eletrônicos..., Paginação:   Autores: ZEIDAN, Rodrigo Mariath;  FEDOSEEVA, Svetlana. Tipo de Publicação: Trabalho de evento Autor Principal: Zeidan, Rodrigo Mariath Outros Autores: ZEIDAN, Rodrigo Mariath;  FEDOSEEVA, Svetlana. Resumo: In 2014, China, Russia, Brazil and India jointly account for a larger share of the extra-EU trade than the US, the largest importer of European goods outside of Europe. The importance of the BRICs cannot be underestimated as e.g. an increase in demand for milk in China is able to start a price explosion in the world market and Russian import embargo for agricultural and food products has recently led to a panic in European agricultural sector. Here we try to address the factors that influence exports – not only total, but also sectoral – of the largest European exporters to the BRIC scountries. We use a dynamic nonlinear ADRL framework (Shin et al. 2014) and analyze the possibility of asymmetric cointegration between exports and its determinants. We present two salient results: asymmetric responses to exchange rate movements, and a special role of foreign demand to explain the behavior of European exports. Both results are relevant for the design of trade agreements and the search for market opportunities in the case of European exporters. Idioma: Inglês Número de Referência: Documento eletrônico