Solving the Puzzle: A New Measure of Trade Distance In The Gravity

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dc.contributor.authorMejía Mejía, Juan Felipe
dc.contributor.authorRamírez Hassan, Andrés
dc.coverage.spatialMedellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degreeseng
dc.creator.emailjfmejia@eafit.edu.cospa
dc.creator.emailaramir21@eafit.edu.cospa
dc.date.accessioned2013-07-11T19:34:51Z
dc.date.available2013-07-11T19:34:51Z
dc.date.issued2014-06-11
dc.description.abstractThe gravity model is a workhorse tool that has been widely used in international trade. However, one empirical question that frequently arises is related to the conceptualization and measurement of distance. To overcome this limitation, our study proposes an index of distance based on multivariate statistical analysis. Specifically, we build our index using Factorial Analysis for Mixed Data. For robustness check, we use Principal Component Analysis. Both techniques summarize in one factor information related to geographical, cultural, political and economic variables that might affect international trade between countries. We use this index as proxy of distance, and Gross Domestic Product as proxy of mass, and we run some panel data exercises between 1995 and 2000 for 10 Latin American economies. Estimations indicate that the sign of the load factors in Factor Analysis for Mixed Data are intuitively plausible, and that panel data exercises give sensible robust outcomes.eng
dc.identifier.jelF11
dc.identifier.jelF14
dc.identifier.urihttp://hdl.handle.net/10784/993
dc.language.isoengeng
dc.publisherUniversidad EAFITspa
dc.publisher.departmentEscuela de Economía y Finanzasspa
dc.rights.accessrightsinfo:eu-repo/semantics/openAccesseng
dc.rights.localAcceso abiertospa
dc.subject.keywordFactor Analysis for Mixed Dataeng
dc.subject.keywordGravity Equation Modeleng
dc.subject.keywordPanel Dataeng
dc.subject.keywordTrade Distanceeng
dc.titleSolving the Puzzle: A New Measure of Trade Distance In The Gravityeng
dc.typeworkingPapereng
dc.typeinfo:eu-repo/semantics/workingPapereng
dc.type.hasVersiondrafteng
dc.type.localDocumento de trabajo de investigaciónspa

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