Celestino Suárez | Universitat Jaume I de Castelló (original) (raw)
Uploads
Papers by Celestino Suárez
Maritime Economics & Logistics, 2003
This paper aims to investigate the determinants of maritime and overland transport costs and the ... more This paper aims to investigate the determinants of maritime and overland transport costs and the role they play in deterring trade across countries. We estimate a transport cost function using data on maritime and overland transport of the ceramic sector (tiles) obtained from interviews held with Spanish logistics operators. We also study the relationship between transport costs and trade and estimate an import demand model for ceramic products. Additionally, we present a discussion on the sensitivity of trade flows and transportation costs to the existence of back-hauling, special conditions for transport and number of reloads. 1 The study of modal transport (overland versus maritime) and its differential characteristics are of relevant interest for maritime economists and should be taken into account in economic policy-making. Furthermore, the proven impact of infrastructure on transport costs and trade points towards the importance of investing in new port infrastructures as a way of fostering trade and income. Our results from the transport cost estimation show that higher distance and poor partner infrastructure lead to a notable increase in transport costs. Inclusion of infrastructure measures improves the fit of the regression, thus corroborating the importance of infrastructure in determining transport costs. The distance coefficient remains significant and with similar magnitude when we add infrastructure variables. Our results from the trade equation estimation show that importer income, as expected, has a positive influence in bilateral trade flows. Higher transport costs significantly deter trade, and distance does not appear to be a good proxy for transport costs in the ceramics sector.
Taylor and Francis eBooks, 2019
In this paper, we seek to analyze the impact that the ability to produce more sophisticated goods... more In this paper, we seek to analyze the impact that the ability to produce more sophisticated goods has on the economic performance of the Western Balkan region and to determine the factors fostering this process. To do so, we elaborate an export sophistication index, à la Hausmann. The outcomes obtained show that export sophistication has a positive and significant effect on growth in these economies. Additionally, we found that this process is driven more by the sophistication in medium-skill and technology-intensive manufactures goods rather than through sophistication in highskill goods. Our findings also confirm that a greater participation in international production networks and a better institutional environment stimulates the upgrading of exports, and the subsequent economic growth of these economies.
Taylor and Francis eBooks, Feb 25, 2016
The globalization of the world economy has given rise to new trade patterns through the intensifi... more The globalization of the world economy has given rise to new trade patterns through the intensification of international production networks (IPNs). This phenomenon has enabled countries to undertake more in-depth specialization in niche parts of the production chain, with important benefits for their economic activity and growth. The Western Balkan countries are no exception. With their recent integration into global markets, an increasingly large share of their trade flows entail intermediate goods that are eventually processed and exported. This article analyzes the impact of different degrees of participation in IPNs on the economic performance of the Western Balkan countries, thereby testing the hypothesis that trade created by international fragmentation of production may generate effects on economic growth beyond the beneficial influence of total or final goods trade. The article focuses on the period 2002–2013. The results, using a set of panel data models, show that the degree of involvement in IPNs significantly affects economic performance, which partly explains the observed differences in the growth rates of the Western Balkan countries. We also find that the positive influence of processing trade on economic growth is greater than the traditional gains of an increase in foreign demand.
International Advances in Economic Research, Feb 1, 2000
This paper has found evidence that real effective exchange rates have a positive impact on the tr... more This paper has found evidence that real effective exchange rates have a positive impact on the trade balance in the long run for major European Union countries. This result sheds more light on the long-run statistical relationship between those two variables, at least in the context of the Community. The existence of that link is sustained by the effects that income variables have on the trade balance. The outcomes of this analysis in support of a long-run equilibrium relationship are consistent with the imperfect substitutes model, confirming the validity of this model for economic policy implementation purposes. Low, long-run elasticities of the trade balance with respect to the real effective exchange rate indicate that a substantial change in relative prices should be made to considerably improve trade accounts. This fact may be related to the prevailing tendencies of intraindustry trade among industrialized countries. Therefore, variables other than price should be stressed. Costs of relinquishing individual exchange rates in the monetary union may be, generally, rather moderate given the estimates of the price elasticities obtained. In any case, adjustment to external shocks will always be a real adjustment since one of the Maastricht commitments for European Union countries to reach monetary union in 1999 is the stability of exchange rates, abandoning them as instruments of economic policy. (JEL F10)
The Political Economy of Japanese Trade Policy
Celestino. Fragmentation and parts and components trade in the Western Balkan countries. Post-
Post-Communist Economies, 2013
As a consequence of the increasing globalization and integration of the world's markets, there ha... more As a consequence of the increasing globalization and integration of the world's markets, there has been an intensive process of international fragmentation of the production over the last few decades. This phenomenon whereby previously integrated productive activities are segmented and internationally spread is reflected in the rapid increase in parts and components trade, growing at higher rates than final goods trade. In this process, the Western Balkan countries (WBC) have not been an exception. With their recent integration into the global markets, the WBC have witnessed growth in parts and components trade that has even exceeded the world average. This paper examines the determinants of the trade that stems from the international fragmentation of production in the WBC. Using a panel data set of disaggregated bilateral trade flows, we estimate gravity equations for the period 2000-2009. Our findings support the hypothesis drawn from the theory of fragmentation that trade in parts and components is motivated by labor cost differences and by geographical and proximity reasons. The relevance of additional service link costs, as well as the influence of institutional similarity and infrastructure quality or political-economic agreements is also confirmed by our empirical research.
Emerging Markets Finance and Trade, 2019
In this paper, we seek to analyze the impact that the ability to produce more sophisticated goods... more In this paper, we seek to analyze the impact that the ability to produce more sophisticated goods has on the economic performance of the Western Balkan region and to determine the factors fostering this process. To do so, we elaborate an export sophistication index, à la Hausmann. The outcomes obtained show that export sophistication has a positive and significant effect on growth in these economies. Additionally, we found that this process is driven more by the sophistication in medium-skill and technology-intensive manufactures goods rather than through sophistication in high-skill goods. Our findings also confirm that a greater participation in international production networks and a better institutional environment stimulates the upgrading of exports, and the subsequent economic growth of these economies.
Revista de Economía Aplicada, 1998
En este artículo se analiza la relación de largo plazo entre los tipos de cambio reales y las bal... more En este artículo se analiza la relación de largo plazo entre los tipos de cambio reales y las balanzas comerciales para los cinco países con mayor peso económico
Maritime Economics & Logistics, 2014
This paper investigates the determinants of maritime trade. It focuses in particular on the exten... more This paper investigates the determinants of maritime trade. It focuses in particular on the extent to which variations in trade-related costs between Asia and Europe help to explain the surge in Euro-Asian trade in eight of the most emblematic categories of products related to Asian success: textiles, footwear, confection, machinery, electronic products, vehicles, furniture and pharmaceutical products. In marked contrast to other studies that focus only on the determinants of total maritime trade, we decompose trade into two margins, as defined in Hummels and Klenow (2005): the number of different products exchanged (extensive margin) and the average value of each product (intensive margin). We estimate a trade augmented gravity model with trade cost factors for specific trade flows and industries and for both margins of trade (Hummels and Klenow, 2005). Several types of trade costs are considered, namely maritime transport costs, time to export/import, behind-the-border trade costs and distances. The main findings indicate that lower freight costs increase aggregate trade values mainly by increasing the average value of imported varieties, but also by increasing the number of products traded. Our findings suggest that political actions aimed at spurring competition and innovation in the maritime transport industry do have an impact on the volume and composition of international trade.
Maritime Economics & Logistics, 2003
This paper aims to investigate the determinants of maritime and overland transport costs and the ... more This paper aims to investigate the determinants of maritime and overland transport costs and the role they play in deterring trade across countries. We estimate a transport cost function using data on maritime and overland transport of the ceramic sector (tiles) obtained from interviews held with Spanish logistics operators. We also study the relationship between transport costs and trade and estimate an import demand model for ceramic products. Additionally, we present a discussion on the sensitivity of trade flows and transportation costs to the existence of back-hauling, special conditions for transport and number of reloads. 1 The study of modal transport (overland versus maritime) and its differential characteristics are of relevant interest for maritime economists and should be taken into account in economic policy-making. Furthermore, the proven impact of infrastructure on transport costs and trade points towards the importance of investing in new port infrastructures as a way of fostering trade and income. Our results from the transport cost estimation show that higher distance and poor partner infrastructure lead to a notable increase in transport costs. Inclusion of infrastructure measures improves the fit of the regression, thus corroborating the importance of infrastructure in determining transport costs. The distance coefficient remains significant and with similar magnitude when we add infrastructure variables. Our results from the trade equation estimation show that importer income, as expected, has a positive influence in bilateral trade flows. Higher transport costs significantly deter trade, and distance does not appear to be a good proxy for transport costs in the ceramics sector.
Taylor and Francis eBooks, 2019
In this paper, we seek to analyze the impact that the ability to produce more sophisticated goods... more In this paper, we seek to analyze the impact that the ability to produce more sophisticated goods has on the economic performance of the Western Balkan region and to determine the factors fostering this process. To do so, we elaborate an export sophistication index, à la Hausmann. The outcomes obtained show that export sophistication has a positive and significant effect on growth in these economies. Additionally, we found that this process is driven more by the sophistication in medium-skill and technology-intensive manufactures goods rather than through sophistication in highskill goods. Our findings also confirm that a greater participation in international production networks and a better institutional environment stimulates the upgrading of exports, and the subsequent economic growth of these economies.
Taylor and Francis eBooks, Feb 25, 2016
The globalization of the world economy has given rise to new trade patterns through the intensifi... more The globalization of the world economy has given rise to new trade patterns through the intensification of international production networks (IPNs). This phenomenon has enabled countries to undertake more in-depth specialization in niche parts of the production chain, with important benefits for their economic activity and growth. The Western Balkan countries are no exception. With their recent integration into global markets, an increasingly large share of their trade flows entail intermediate goods that are eventually processed and exported. This article analyzes the impact of different degrees of participation in IPNs on the economic performance of the Western Balkan countries, thereby testing the hypothesis that trade created by international fragmentation of production may generate effects on economic growth beyond the beneficial influence of total or final goods trade. The article focuses on the period 2002–2013. The results, using a set of panel data models, show that the degree of involvement in IPNs significantly affects economic performance, which partly explains the observed differences in the growth rates of the Western Balkan countries. We also find that the positive influence of processing trade on economic growth is greater than the traditional gains of an increase in foreign demand.
International Advances in Economic Research, Feb 1, 2000
This paper has found evidence that real effective exchange rates have a positive impact on the tr... more This paper has found evidence that real effective exchange rates have a positive impact on the trade balance in the long run for major European Union countries. This result sheds more light on the long-run statistical relationship between those two variables, at least in the context of the Community. The existence of that link is sustained by the effects that income variables have on the trade balance. The outcomes of this analysis in support of a long-run equilibrium relationship are consistent with the imperfect substitutes model, confirming the validity of this model for economic policy implementation purposes. Low, long-run elasticities of the trade balance with respect to the real effective exchange rate indicate that a substantial change in relative prices should be made to considerably improve trade accounts. This fact may be related to the prevailing tendencies of intraindustry trade among industrialized countries. Therefore, variables other than price should be stressed. Costs of relinquishing individual exchange rates in the monetary union may be, generally, rather moderate given the estimates of the price elasticities obtained. In any case, adjustment to external shocks will always be a real adjustment since one of the Maastricht commitments for European Union countries to reach monetary union in 1999 is the stability of exchange rates, abandoning them as instruments of economic policy. (JEL F10)
The Political Economy of Japanese Trade Policy
Celestino. Fragmentation and parts and components trade in the Western Balkan countries. Post-
Post-Communist Economies, 2013
As a consequence of the increasing globalization and integration of the world's markets, there ha... more As a consequence of the increasing globalization and integration of the world's markets, there has been an intensive process of international fragmentation of the production over the last few decades. This phenomenon whereby previously integrated productive activities are segmented and internationally spread is reflected in the rapid increase in parts and components trade, growing at higher rates than final goods trade. In this process, the Western Balkan countries (WBC) have not been an exception. With their recent integration into the global markets, the WBC have witnessed growth in parts and components trade that has even exceeded the world average. This paper examines the determinants of the trade that stems from the international fragmentation of production in the WBC. Using a panel data set of disaggregated bilateral trade flows, we estimate gravity equations for the period 2000-2009. Our findings support the hypothesis drawn from the theory of fragmentation that trade in parts and components is motivated by labor cost differences and by geographical and proximity reasons. The relevance of additional service link costs, as well as the influence of institutional similarity and infrastructure quality or political-economic agreements is also confirmed by our empirical research.
Emerging Markets Finance and Trade, 2019
In this paper, we seek to analyze the impact that the ability to produce more sophisticated goods... more In this paper, we seek to analyze the impact that the ability to produce more sophisticated goods has on the economic performance of the Western Balkan region and to determine the factors fostering this process. To do so, we elaborate an export sophistication index, à la Hausmann. The outcomes obtained show that export sophistication has a positive and significant effect on growth in these economies. Additionally, we found that this process is driven more by the sophistication in medium-skill and technology-intensive manufactures goods rather than through sophistication in high-skill goods. Our findings also confirm that a greater participation in international production networks and a better institutional environment stimulates the upgrading of exports, and the subsequent economic growth of these economies.
Revista de Economía Aplicada, 1998
En este artículo se analiza la relación de largo plazo entre los tipos de cambio reales y las bal... more En este artículo se analiza la relación de largo plazo entre los tipos de cambio reales y las balanzas comerciales para los cinco países con mayor peso económico
Maritime Economics & Logistics, 2014
This paper investigates the determinants of maritime trade. It focuses in particular on the exten... more This paper investigates the determinants of maritime trade. It focuses in particular on the extent to which variations in trade-related costs between Asia and Europe help to explain the surge in Euro-Asian trade in eight of the most emblematic categories of products related to Asian success: textiles, footwear, confection, machinery, electronic products, vehicles, furniture and pharmaceutical products. In marked contrast to other studies that focus only on the determinants of total maritime trade, we decompose trade into two margins, as defined in Hummels and Klenow (2005): the number of different products exchanged (extensive margin) and the average value of each product (intensive margin). We estimate a trade augmented gravity model with trade cost factors for specific trade flows and industries and for both margins of trade (Hummels and Klenow, 2005). Several types of trade costs are considered, namely maritime transport costs, time to export/import, behind-the-border trade costs and distances. The main findings indicate that lower freight costs increase aggregate trade values mainly by increasing the average value of imported varieties, but also by increasing the number of products traded. Our findings suggest that political actions aimed at spurring competition and innovation in the maritime transport industry do have an impact on the volume and composition of international trade.