Intra-industrial trade and adjustment costs for the Valle del Cauca industry (1975-2014)
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Abstract
The objective of this article is to analyze the adjustment costs for the Valle del Cauca industry during 1975-2014, considering the department´s foreign trade pattern. For this, the Brülhart index is calculated in order to analyze the marginal intra-industry trade, and its relation with the adjustment costs within the department´s industry. One of the main results show that commercial relations evolved up till 2009 towards an intra-industrial pattern, but after this year, due to the international financial crisis, the pattern shifted towards and inter-industry trade, which meant larger adjustment costs for the end of the period.
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How to Cite
Hernández García, E. A., & Raffo López, L. (2016). Intra-industrial trade and adjustment costs for the Valle del Cauca industry (1975-2014). Semestre Económico, 19(41), 137-166. https://doi.org/10.22395/seec.v19n41a6