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Terms of trade instability and output growth in Bolivia

Author

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  • Hugo Toledo

    (American University of Sharjah, UAE)

Abstract

This study examines the empirical hypothesis that there is a negative relationship between terms of trade instability and output growth. The instability in the terms of trade is measured by the price variance of three export commodities for Bolivia. Results confirm the hypothesis that terms of trade instability and output growth have an inverse relationship. Since the terms of trade affect the value of tradable components of output, fluctuations in the terms of trade caused by exports price instability are likely to lead to fluctuations in output.

Suggested Citation

  • Hugo Toledo, 2014. "Terms of trade instability and output growth in Bolivia," Journal of Developing Areas, Tennessee State University, College of Business, vol. 48(2), pages 275-286, April-Jun.
    • Handle: RePEc:jda:journl:vol.48:year:2014:issue2:pp275-286
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    More about this item

    Keywords

    Terms of Trade; Volatility; Commodities; and Bolivia;
    All these keywords.

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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