Latin American Export Structure and the US Growth Spillover Effect in the Great Recession

Available from: 
February 2015
Paper author(s): 
Gonzalo Hernández Jiménez
Globalization - Trade
History and Economics

Using panel data analysis, and focusing on export-structure related aspects of the Latin American economies, this paper finds that output fluctuations in Latin America are synchronized with the United States’ business cycle in the period 1961-2012. Moreover, non-primary commodity exporters and Latin American countries whose exports have mainly been destined for the US market display an intensified output fluctuation co-movement with the US. These findings have crucial implications to address the uneven performance of Latin American economies in the Great Recession as a consequence of the real GDP contraction in the United States in 2009.


Research section: 
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