Determinants of intra-industrial trade between Colombia and its main trading partners
Keywords:
Intra-industrial trade, Grubel-Lloyd Index, ColombiaAbstract
In this article it's studied the intra-industry trade and its determinants for trade between Colombia and its major trading partners, both at industry and country level for the period 2000-2011. To measure intra-industry trade Grubel-Lloyd Index (GLI) was used; while to identify its determinants, given the censored nature of the index; it's used a Tobit regression. The results shows that this trade represents, on average, above 20% of the value of total Colombian trade along the period of study, for nearby countries, highlighting Ecuador (44%), Chile (41%) and Peru (40%). The econometric results indicate that differences in factor endowments, market size, distance, language, market structure and market orientation of the partner country, had a statistically significant impact on the behavior of the GLI.
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