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Title:Central banks' interest rate and international trade in BRIC countries: Agriculture vs machinery industry? PDF Logo
Authors:Borodin, Konstantin
Strokov, Anton
Issue Date:2011
Series/Report no.:IAMO Forum 2011 18
Abstract:The paper investigates interrelations between the dynamics of national central banks' interest rates and international trade within the BRIC countries. It shows that countries with lower interest rates experience growth of the share of machinery industry exports rather than agriculture and food products, and, on the contrary, in countries with higher interest rates the share of agriculture and food exports increases and the share of machinery industry products declines. The investigation has shown that a relative shift in the interest rate can affect the specialization of countries.
Subjects:Central banks' interest rate
Exports
Specialization
JEL:F1
Document Type:Conference Paper
Appears in Collections:IAMO Forum 2011: Will the "BRICs Decade" Continue? – Prospects for Trade and Growth

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