SEMINARIOS

Commodity Boom and Latin American Economic Growth: Was This Time Really Different?

El Profesor Eduardo Torres, Director del Departamento de Administración y Negocios de la Facultad de Economía y Negocios de la Universidad de Chile, los invita a participar de nuestro ciclo mensual de Seminarios. En esta oportunidad el tema a conversar estará enfocado en "The effect of banking regulation Basel II in the real economy in Latin America" y lo dictaran Roberto Alvarez, Sebastián Edwards y Juan Marcos Wlasiuk.

Este Seminario se llevará a cabo el día vierenes 5 de agosto 2016.

Les comparto un resumen de las principales ideas del Seminario de Roberto Alvarez, Sebastián Edwards y Juan Marcos Wlasiuk:

"In this paper, we study the impact of commodity prices on economic growth with particular focus on the experience of Latin America during the recent boom of commodities. We also explore whether changes in the policy framework have reduced the exposure to changes in commodity prices. We find that long-run growth is negatively affected by increases in commodity prices, but short-run effects are, in general, positive. During the recent boom, the impact of commodity prices was qualitatively different in Latin America with respect to both, previous episodes and the rest of the world. Our evidence suggests that this time was really different in Latin America. In terms of heterogeneous effects, we find that the impact of increases in commodity prices tend to be higher for countries with low fiscal procyclicality. Regarding the ER regime, pegged have been historically more expansionary during boom periods, but we do not find significant differences between countries with pegged ER and the rest of the countries in the period 2002-2014. Finally, we do not find evidence that capital account openness tends to amplify cycles attributable to changes in commodities prices. On the contrary, countries with lower financial openness tend to be more affected by commodity prices shocks".

PRÓXIMOS SEMINARIOS

  • Diciembre - Tercer Miércoles: 16 de diciembre 2015.
    • Área: Gestión de Personas / Management
    • Expositor/Tema: Daniel Schwartz, DII Universidad de Chile
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