How Sensitive Are Latin American Exports To Chinese Competition In The U.S. Market?:
This paper estimates the elasticity of substitution of U.S. imports using detailed trade data over the 1990-2003 period. The authors use a two-stage least squares framework in order to identify the elasticity parameter of interest. The authors use the elasticity estimates to assess the extent to whi...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
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Washington, D.C
The World Bank
2008
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| Online-Zugang: | BSB01 EUV01 HTW01 FHI01 IOS01 Volltext |
| Zusammenfassung: | This paper estimates the elasticity of substitution of U.S. imports using detailed trade data over the 1990-2003 period. The authors use a two-stage least squares framework in order to identify the elasticity parameter of interest. The authors use the elasticity estimates to assess the extent to which Latin American and Chinese goods compete in the U.S. market by providing forecasts of how alternative policy scenarios may affect exports to the United States. The analysis considers the following scenarios: (i) currency revaluation in China; (ii) elimination of U.S. tariffs on Latin American exports under a hemispheric free trade agreement; and (iii) the elimination of quotas on apparel and textile exports under the Multi-Fiber Agreement. The findings show that a 20-percent appreciation of the renminbi reduces Chinese exports to the United States by a fifth, although since other regions increase sales to that market (0.5 percent for Latin America), U.S. imports decline by only 1.7 percent. Hemispheric free trade would increase Latin America's exports to the United States by around 3 percent. The removal of the quotas would lead to a sharp increase in Chinese sales to the United States (40 percent), but Latin America would see its share of the U.S. market decline by around 2 percent (2.5 percentage points). China's gains would come mainly at the expense of other regions of the world |
| Beschreibung: | 1 Online-Ressource (38 Seiten)) |
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| 520 | 3 | |a This paper estimates the elasticity of substitution of U.S. imports using detailed trade data over the 1990-2003 period. The authors use a two-stage least squares framework in order to identify the elasticity parameter of interest. The authors use the elasticity estimates to assess the extent to which Latin American and Chinese goods compete in the U.S. market by providing forecasts of how alternative policy scenarios may affect exports to the United States. The analysis considers the following scenarios: (i) currency revaluation in China; (ii) elimination of U.S. tariffs on Latin American exports under a hemispheric free trade agreement; and (iii) the elimination of quotas on apparel and textile exports under the Multi-Fiber Agreement. The findings show that a 20-percent appreciation of the renminbi reduces Chinese exports to the United States by a fifth, although since other regions increase sales to that market (0.5 percent for Latin America), U.S. imports decline by only 1.7 percent. Hemispheric free trade would increase Latin America's exports to the United States by around 3 percent. The removal of the quotas would lead to a sharp increase in Chinese sales to the United States (40 percent), but Latin America would see its share of the U.S. market decline by around 2 percent (2.5 percentage points). China's gains would come mainly at the expense of other regions of the world | |
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| 650 | 4 | |a Elasticity | |
| 650 | 4 | |a Elasticity of substitution | |
| 650 | 4 | |a Exports | |
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| 650 | 4 | |a Trade Policy | |
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| 700 | 1 | |a Molina, Danielken |e Sonstige |4 oth | |
| 700 | 1 | |a Lopez-Cordova, J. Ernesto |e Sonstige |4 oth | |
| 776 | 0 | 8 | |i Lopez-Cordova, J. Ernesto |a How Sensitive Are Latin American Exports To Chinese Competition In The U.S. Market? |
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| spelling | Lopez-Cordova, J. Ernesto Verfasser aut How Sensitive Are Latin American Exports To Chinese Competition In The U.S. Market? Lopez-Cordova, J. Ernesto Washington, D.C The World Bank 2008 1 Online-Ressource (38 Seiten)) txt rdacontent c rdamedia cr rdacarrier This paper estimates the elasticity of substitution of U.S. imports using detailed trade data over the 1990-2003 period. The authors use a two-stage least squares framework in order to identify the elasticity parameter of interest. The authors use the elasticity estimates to assess the extent to which Latin American and Chinese goods compete in the U.S. market by providing forecasts of how alternative policy scenarios may affect exports to the United States. The analysis considers the following scenarios: (i) currency revaluation in China; (ii) elimination of U.S. tariffs on Latin American exports under a hemispheric free trade agreement; and (iii) the elimination of quotas on apparel and textile exports under the Multi-Fiber Agreement. The findings show that a 20-percent appreciation of the renminbi reduces Chinese exports to the United States by a fifth, although since other regions increase sales to that market (0.5 percent for Latin America), U.S. imports decline by only 1.7 percent. Hemispheric free trade would increase Latin America's exports to the United States by around 3 percent. The removal of the quotas would lead to a sharp increase in Chinese sales to the United States (40 percent), but Latin America would see its share of the U.S. market decline by around 2 percent (2.5 percentage points). China's gains would come mainly at the expense of other regions of the world Online-Ausg Comparative advantage Competitiveness Debt Markets Economic Theory and Research Elasticity Elasticity of substitution Exports Finance and Financial Sector Development Forecasts Free Trade Free trade International Economics & Trade Low tariffs Macroeconomics and Economic Growth Markets and Market Access Public Sector Development Quotas Trade Policy Trade policy Micco, Alejandro Sonstige oth Molina, Danielken Sonstige oth Lopez-Cordova, J. Ernesto Sonstige oth Lopez-Cordova, J. Ernesto How Sensitive Are Latin American Exports To Chinese Competition In The U.S. Market? http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4497 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Lopez-Cordova, J. Ernesto How Sensitive Are Latin American Exports To Chinese Competition In The U.S. Market? Comparative advantage Competitiveness Debt Markets Economic Theory and Research Elasticity Elasticity of substitution Exports Finance and Financial Sector Development Forecasts Free Trade Free trade International Economics & Trade Low tariffs Macroeconomics and Economic Growth Markets and Market Access Public Sector Development Quotas Trade Policy Trade policy |
| title | How Sensitive Are Latin American Exports To Chinese Competition In The U.S. Market? |
| title_auth | How Sensitive Are Latin American Exports To Chinese Competition In The U.S. Market? |
| title_exact_search | How Sensitive Are Latin American Exports To Chinese Competition In The U.S. Market? |
| title_exact_search_txtP | How Sensitive Are Latin American Exports To Chinese Competition In The U.S. Market? |
| title_full | How Sensitive Are Latin American Exports To Chinese Competition In The U.S. Market? Lopez-Cordova, J. Ernesto |
| title_fullStr | How Sensitive Are Latin American Exports To Chinese Competition In The U.S. Market? Lopez-Cordova, J. Ernesto |
| title_full_unstemmed | How Sensitive Are Latin American Exports To Chinese Competition In The U.S. Market? Lopez-Cordova, J. Ernesto |
| title_short | How Sensitive Are Latin American Exports To Chinese Competition In The U.S. Market? |
| title_sort | how sensitive are latin american exports to chinese competition in the u s market |
| topic | Comparative advantage Competitiveness Debt Markets Economic Theory and Research Elasticity Elasticity of substitution Exports Finance and Financial Sector Development Forecasts Free Trade Free trade International Economics & Trade Low tariffs Macroeconomics and Economic Growth Markets and Market Access Public Sector Development Quotas Trade Policy Trade policy |
| topic_facet | Comparative advantage Competitiveness Debt Markets Economic Theory and Research Elasticity Elasticity of substitution Exports Finance and Financial Sector Development Forecasts Free Trade Free trade International Economics & Trade Low tariffs Macroeconomics and Economic Growth Markets and Market Access Public Sector Development Quotas Trade Policy Trade policy |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4497 |
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