Abreo Carlos, Bustillo Ricardo, Rodriguez Carlos
University of the Basque Country, Lehendakari Aguirre, 83, 48015 Bilbao, Spain.
J Econ Struct. 2021;10(1):24. doi: 10.1186/s40008-021-00253-5. Epub 2021 Nov 19.
This paper analyses the relevance of Colombian institutional quality in recent years in terms of the performance of its exports within a framework of trade openness. Based on the trade gravity model, we examine the effect of governance on the evolution of Colombian exports through an econometric approach that identifies, on the one hand, the influence of institutional quality, and on the other hand, the influence of the institutional distance between Colombia and its trading partners. We use a panel data set for 2005-2018, through which the export flows from Colombia to 136 of its trading partners are considered. The findings indicate that Colombian institutional quality and the institutional distance between the country and its partners are statistically significant and affect its foreign sales. Similarly, there is a prominent influence of regulatory quality and the rule of law variables in the performance of Colombian exports in relation to other variables included in the model. We conclude that the Colombian government must improve its institutional quality considerably as a fundamental step towards boosting its overseas sales, not least because the country's institutional distance from the world average is notable, which also affects its exports.
本文在贸易开放的框架内，分析了近年来哥伦比亚制度质量对其出口表现的相关性。基于贸易引力模型，我们通过计量经济学方法研究治理对哥伦比亚出口演变的影响，该方法一方面确定制度质量的影响，另一方面确定哥伦比亚与其贸易伙伴之间制度距离的影响。我们使用了2005 - 2018年的面板数据集，据此考虑了从哥伦比亚到其136个贸易伙伴的出口流量。研究结果表明，哥伦比亚的制度质量以及该国与其伙伴之间的制度距离具有统计学意义，并影响其对外销售。同样，与模型中包含的其他变量相比，监管质量和法治变量对哥伦比亚出口表现有显著影响。我们得出结论，哥伦比亚政府必须大幅提高其制度质量，这是促进其海外销售的基本步骤，尤其是因为该国与世界平均水平的制度距离显著，这也影响了其出口。
