Exchange rate, xports and growth: an investigation on the hypothesis of Dutch disease in Brazil.

Vol. 33 No. 1 (2013)

Jan-Mar / 2013
Published January 1, 2013
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

How to Cite

Polline Veríssimo, Michele, and Clesio Lourenço Xavier. 2013. “Exchange Rate, Xports and Growth: An Investigation on the Hypothesis of Dutch Disease in Brazil.”. Brazilian Journal of Political Economy 33 (1):82-101. https://centrodeeconomiapolitica.org/repojs/index.php/journal/article/view/302.
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Exchange rate, xports and growth: an investigation on the hypothesis of Dutch disease in Brazil.

Michele Polline Veríssimo
Professora do Instituto de Economia da Universidade Federal de Uberlândia (IEUFU).
Clesio Lourenço Xavier
Professor do Instituto de Economia da Universidade Federal de Uberlância (IEUFU), Pesquisador e Bolsista de Produtividade do CNPq.
Brazilian Journal of Political Economy, Vol. 33 No. 1 (2013), Jan-Mar / 2013, Pages 82-101

Abstract

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, commodities exports shocks were relevant to explain Brazilian economic growth rate changes, which supports the “curse” of natural resources literature.

JEL Classification: F37; F17; O24.


Keywords: exports commodities exchange rate growth Brazil

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