Los factores institucionales como determinantes de los flujos comerciales internacionales

  1. Jiménez Jiménez, Juan Carlos
  2. Narbona Moreno, Aránzazu
Journal:
Revista de economía mundial

ISSN: 1576-0162

Year of publication: 2010

Issue: 24

Pages: 23-48

Type: Article

DIALNET GOOGLE SCHOLAR lock_openArias Montano editor

More publications in: Revista de economía mundial

Abstract

Trade theory seeks to identify and to measure the determinants of the international trade flows. During the last decades, variables traditionally not included in trade modeling, such as geographical location, transport costs or institutional and cultural issues have became remarkably important rising the necessity to be included in this economic analysis. Institutional distance between a pair of countries appears then as a fundamental variable to be considered in explaining international trade flows. This paper implements a gravity model to analyze bilateral trade patterns empirically in relation with the institutional aspects. It allows us specifically to investigate the influence of institutions on the commercial patterns for 51 from 1996 to 2004. We use indicators on political stability, regulatory quality, and other proxies that reflect de quality of governance for both partners as well as their institutional distance. Those indicators are successively incorporated in the gravity equations. The paper ought to test that institutions and �good governance� matter for international trade. We find that a better quality of institutions, in particular the importer�s institutional quality, promotes remarkably bilateral flows.

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