The role of institutional quality in the international trade of a Latin American country: evidence from Colombian export performance

Abstract This paper analyses the relevance of Colombian institutional quality in recent years in terms of the performance of its exports within a framework of trade openness. Based on the trade gravity model, we examine the effect of governance on the evolution of Colombian exports through an econom...

Descripción completa

Guardado en:

Detalles Bibliográficos
Autores principales:	Carlos Abreo, Ricardo Bustillo, Carlos Rodriguez
Formato:	article
Lenguaje:	EN
Publicado:	SpringerOpen 2021
Materias:	Institutional quality Free trade agreements Trade Exports Trade balance Trade gravity model Economic growth, development, planning HD72-88 Economics as a science HB71-74
Acceso en línea:	https://doaj.org/article/52fa2363db2640f7a1ab526292699026
Etiquetas:	Agregar Etiqueta Sin Etiquetas, Sea el primero en etiquetar este registro!

id	oai:doaj.org-article:52fa2363db2640f7a1ab526292699026
record_format	dspace
spelling	oai:doaj.org-article:52fa2363db2640f7a1ab5262926990262021-11-21T12:15:28ZThe role of institutional quality in the international trade of a Latin American country: evidence from Colombian export performance10.1186/s40008-021-00253-52193-2409https://doaj.org/article/52fa2363db2640f7a1ab5262926990262021-11-01T00:00:00Zhttps://doi.org/10.1186/s40008-021-00253-5https://doaj.org/toc/2193-2409Abstract This paper analyses the relevance of Colombian institutional quality in recent years in terms of the performance of its exports within a framework of trade openness. Based on the trade gravity model, we examine the effect of governance on the evolution of Colombian exports through an econometric approach that identifies, on the one hand, the influence of institutional quality, and on the other hand, the influence of the institutional distance between Colombia and its trading partners. We use a panel data set for 2005–2018, through which the export flows from Colombia to 136 of its trading partners are considered. The findings indicate that Colombian institutional quality and the institutional distance between the country and its partners are statistically significant and affect its foreign sales. Similarly, there is a prominent influence of regulatory quality and the rule of law variables in the performance of Colombian exports in relation to other variables included in the model. We conclude that the Colombian government must improve its institutional quality considerably as a fundamental step towards boosting its overseas sales, not least because the country’s institutional distance from the world average is notable, which also affects its exports.Carlos AbreoRicardo BustilloCarlos RodriguezSpringerOpenarticleInstitutional qualityFree trade agreementsTradeExportsTrade balanceTrade gravity modelEconomic growth, development, planningHD72-88Economics as a scienceHB71-74ENJournal of Economic Structures, Vol 10, Iss 1, Pp 1-21 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Institutional quality Free trade agreements Trade Exports Trade balance Trade gravity model Economic growth, development, planning HD72-88 Economics as a science HB71-74
spellingShingle	Institutional quality Free trade agreements Trade Exports Trade balance Trade gravity model Economic growth, development, planning HD72-88 Economics as a science HB71-74 Carlos Abreo Ricardo Bustillo Carlos Rodriguez The role of institutional quality in the international trade of a Latin American country: evidence from Colombian export performance
description	Abstract This paper analyses the relevance of Colombian institutional quality in recent years in terms of the performance of its exports within a framework of trade openness. Based on the trade gravity model, we examine the effect of governance on the evolution of Colombian exports through an econometric approach that identifies, on the one hand, the influence of institutional quality, and on the other hand, the influence of the institutional distance between Colombia and its trading partners. We use a panel data set for 2005–2018, through which the export flows from Colombia to 136 of its trading partners are considered. The findings indicate that Colombian institutional quality and the institutional distance between the country and its partners are statistically significant and affect its foreign sales. Similarly, there is a prominent influence of regulatory quality and the rule of law variables in the performance of Colombian exports in relation to other variables included in the model. We conclude that the Colombian government must improve its institutional quality considerably as a fundamental step towards boosting its overseas sales, not least because the country’s institutional distance from the world average is notable, which also affects its exports.
format	article
author	Carlos Abreo Ricardo Bustillo Carlos Rodriguez
author_facet	Carlos Abreo Ricardo Bustillo Carlos Rodriguez
author_sort	Carlos Abreo
title	The role of institutional quality in the international trade of a Latin American country: evidence from Colombian export performance
title_short	The role of institutional quality in the international trade of a Latin American country: evidence from Colombian export performance
title_full	The role of institutional quality in the international trade of a Latin American country: evidence from Colombian export performance
title_fullStr	The role of institutional quality in the international trade of a Latin American country: evidence from Colombian export performance
title_full_unstemmed	The role of institutional quality in the international trade of a Latin American country: evidence from Colombian export performance
title_sort	role of institutional quality in the international trade of a latin american country: evidence from colombian export performance
publisher	SpringerOpen
publishDate	2021
url	https://doaj.org/article/52fa2363db2640f7a1ab526292699026
work_keys_str_mv	AT carlosabreo theroleofinstitutionalqualityintheinternationaltradeofalatinamericancountryevidencefromcolombianexportperformance AT ricardobustillo theroleofinstitutionalqualityintheinternationaltradeofalatinamericancountryevidencefromcolombianexportperformance AT carlosrodriguez theroleofinstitutionalqualityintheinternationaltradeofalatinamericancountryevidencefromcolombianexportperformance AT carlosabreo roleofinstitutionalqualityintheinternationaltradeofalatinamericancountryevidencefromcolombianexportperformance AT ricardobustillo roleofinstitutionalqualityintheinternationaltradeofalatinamericancountryevidencefromcolombianexportperformance AT carlosrodriguez roleofinstitutionalqualityintheinternationaltradeofalatinamericancountryevidencefromcolombianexportperformance
_version_	1718419122931367936

The role of institutional quality in the international trade of a Latin American country: evidence from Colombian export performance

Ejemplares similares