Intra-regional spillovers in South America : is Brazil systemic after all?

Intra-regional spillovers in South America : is Brazil systemic after all? / prepared by Gustavo Adler and Sebastián Sosa.

Shocks stemming from Brazil - the large neighbor in South America - have historically been a source of concern for policy-makers in other countries of the region. This paper studies the importance of Brazil's influence on its neighboring economies, documenting trade linkages over the last two d...

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Bibliographic Details
Main Authors: Adler, Gustavo, 1974- (Author), Sosa, Sebastian (Author)
Format: eBook
Language:English
Published: [Washington, D.C.] : International Monetary Fund, ©2012.
Series:IMF working paper ; WP/12/145.
Subjects:
Industrial productivity > Brazil > Econometric models.
Devaluation of currency > Brazil > Econometric models.
Commerce > Econometric models
Devaluation of currency > Econometric models
Industrial productivity > Econometric models
Brazil > Commerce > Southern Cone of South America > Econometric models.
Southern Cone of South America > Commerce > Brazil > Econometric models.
Brazil > Commerce > South America > Econometric models.
South America > Commerce > Brazil > Econometric models.
Brazil
South America
South America > Southern Cone of South America
Online Access:Click for online access
Table of Contents:
  • Cover; Contents; I. Introduction; Figures; 1. Latin America's Large Neighbors, 2010; Tables; 1. Business Cycle Comovement with Large Neighbors, 1990:Q1-2011:Q4; II. Export Linkages with Brazil; 2. South America: Exports of Goods by Region, 1990-2010; 3. South America: Intra-Regional Exports of Goods 1990-2010; III. How Important are Spillovers from Brazil? A VAR Approach; 4. South America's Exports: Exposure to Brazil, 1990-2010; 5. Export Performance in Brazil's Neighbors, 1990-2011; A. Impact of Brazil-Idiosyncratic Shocks; 6. Output Response to a Shock to Brazil's Output.
  • B. Amplification of Global Shocks2. Cumulative Impact on Output; 7. Output Response to a VIX Shock: Brazil's Amplifying Role; C. Variance Decomposition Analysis; IV. The Impact of Brazilian Real Depreciations; 8. Variance Decomposition of Output; 9. Real Exchange Rate Depreciation in Brazil: Export Performance in Southern Cone Neighbors; V. Conclusions; 10. Responses to a Shock to Brazil's Real Exchange Rate; Appendix Figures; 1. South America: Exports of Goods by Region, 1990-2010 (Percent of Total Exports); 2. South America: Exports of Goods by Region, 1990-2010 (Percent of GDP).
  • 3. Output Response to a Shock to Global Output4. Output Response to a Shock to the VIX; 5. Output Response to a Shock to Commodity Prices; 6. Output Response to a Shock to Argentina's Output; 7. Real Exchange Rate Depreciation in Brazil: Export Performance in Southern Cone Neighbors; References.

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