2013
DOI: 10.1590/s0101-31572013000100005
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Abstract: Exchange rate, exports and growth: an investigation on the hypothesis of Dutch disease in Brazil. This paper investigates the hypothesis of Dutch disease in Brazil by the existence of a negative relationship between commodity exports and the real exchange rate, and the effects of export specialization in commodities on the Brazilian economic growth from 1999 to 2010 based on VAR model. The evidences suggested an expressive importance of commodities exports in explaining the real exchange rate changes. Moreover… Show more

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Cited by 13 publications
(12 citation statements)
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“…The response of Brazilian real resource exports is large, peaking at 7.00% above the baseline four quarters after the shock. The rise in resource exports occurs despite an appreciation of the real exchange rate indicating high profitability of resource exports for Brazil consistent with Veríssimo and Xavier (2013). Higher Chinese resource demand and the resulting commodity price boom translate into an expansion of output in Brazil, which has longevity.…”
Section: Commodity Sector and International Liquidity Shocksmentioning
confidence: 98%
“…The response of Brazilian real resource exports is large, peaking at 7.00% above the baseline four quarters after the shock. The rise in resource exports occurs despite an appreciation of the real exchange rate indicating high profitability of resource exports for Brazil consistent with Veríssimo and Xavier (2013). Higher Chinese resource demand and the resulting commodity price boom translate into an expansion of output in Brazil, which has longevity.…”
Section: Commodity Sector and International Liquidity Shocksmentioning
confidence: 98%
“…Os modelos que buscam determinar a taxa de câmbio partem do pressuposto de que no longo prazo a PPC 5 não é válida, desta forma, a taxa de câmbio real dependeria também de fatores reais (VERÍSSIMO et al 2010). Assim, diversos autores passaram a estudar o não ajustamento da taxa de câmbio para manter uma PPC constante, dentre eles destacam-se, principalmente, Gregorio e Wolf (1994), Froot e Rogoff (1995) e Rogoff (1996).…”
Section: Referencial Teóricounclassified
“…É recorrente na literatura econômica relacionar movimentos nas taxas de câmbio dos países em desenvolvimento, cuja pauta de exportações está baseada em commodities primárias, com flutuações nos preços mundiais das commodities indicando estes como causa para aqueles (Cashin et al (2004) e Veríssimo et al (2012)). …”
Section: Relação De Causalidade Entre As Variáveisunclassified
“…Cashin et al (2004) examinam este tema através de testes de cointegração, endogeneidade e causalidade, tendo como objetivo determinar quantos países exportadores de commodities têm suas taxas reais de câmbio explicadas por movimentos nos preços reais das commodities. Diferentemente de Cashin et al (2004) e Veríssimo et al (2012), não se intenciona verificar a existência de cointegração entre as variáveis taxa de câm-bio e preço de commodities, mas determinar se existe uma relação de causalidade entre elas.…”
Section: Relação De Causalidade Entre As Variáveisunclassified