Uruguay Selected Issues

This Selected Issues paper analyzes the sectoral trends and the impact of the real effective exchange rate (REER) changes on sectoral exports using the detailed product data from the United Nations’ Commodity Trade Statistics Database (Comtrade). This paper focuses on Uruguay’s product- and sector-s...

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Bibliographic Details
Corporate Author: International Monetary Fund Western Hemisphere Dept
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2019
Series:IMF Staff Country Reports
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a Uruguay  |b Selected Issues 
260 |a Washington, D.C.  |b International Monetary Fund  |c 2019 
300 |a 31 pages 
651 4 |a Uruguay 
653 |a Manufacturing industries 
653 |a Finance 
653 |a Real effective exchange rates 
653 |a Manufacturing 
653 |a Currency 
653 |a Trade: General 
653 |a Exports and Imports 
653 |a International economics 
653 |a Economic sectors 
653 |a Industry Studies: Manufacturing: General 
653 |a Industries: Manufacturing 
653 |a International Financial Markets 
653 |a Investments: Commodities 
653 |a Foreign Exchange 
653 |a International trade 
653 |a Exports 
653 |a Investment & securities 
653 |a Foreign exchange market 
653 |a Exchange rates 
653 |a Commercial products 
653 |a Finance: General 
653 |a Foreign exchange 
653 |a Commodity Markets 
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520 |a This Selected Issues paper analyzes the sectoral trends and the impact of the real effective exchange rate (REER) changes on sectoral exports using the detailed product data from the United Nations’ Commodity Trade Statistics Database (Comtrade). This paper focuses on Uruguay’s product- and sector-specific global export market shares. It also estimates the sensitivity of these market shares to real effective exchange rate by using the product data from the Comtrade database and building on the work presented in IMF (2017). The paper estimates the elasticities of product market shares with respect to real exchange rates for Uruguay only. Rather than using time dummies to isolate the potential impact of the time trend, the lagged value of the change in shares as an additional independent variable has been added. The paper concludes that Uruguay’s manufacturing exports are sensitive to the changes in REER, and, accordingly, that productivity-enhancing measures to promote competitiveness would be beneficial