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RESEARCH PRODUCT

Competitividad Del Sector Manufacturero En Ammrica Latina Tendencias Y Determinants (Competitiveness of the Manufacturing Sector in Latin America Trends and Determinants)

Pablo UrbiolaFernando SotoEnestor Dos SantosArnulfo RodriguezMauricio A. HernándezAlicia García-herreroAlicia García-herreroMarcos Dal BiancoRosario Sánchez

subject

Manufacturing sectorLatin AmericansWelfare economicsPolitical science

description

Spanish Abstract: Tras analizar conjuntamente la evolucion de las exportaciones de los principales paises latinoamericanos en la ultima decada y examinar caso a caso los determinantes del desempeno de cada pais, este estudio concluye que la competitividad del sector manufacturero en la mayoria de los paises de la region ha disminuido a partir de 2007 hasta el 2012, despues de evolucionar de manera relativamente favorable entre el 2002 y el 2007. Este deterioro reciente, que ha sido mas marcado en paises como Brasil y Colombia, esta relacionado con el mantenimiento de un tipo de cambio real apreciado, elevados costes laborales y un insuficiente avance de la productividad de la mano de obra. La principal excepcion a estas tendencias regionales es Mexico, donde las ganancias de competitividad en el sector manufacturero continuaron mas alla de 2007, en parte porque el tipo de cambio se mantuvo relativamente depreciado y los costes laborales, asi como la productividad del trabajo, presentaron un desempeno mas favorable que en los paises de America del Sur. Sin embargo, a partir del 2011 la reversion de estas tendencias esta dificultando las ganancias de competitividad del sector manufacturero mexicano. El estudio de caso de cada uno de los principales paises de la region muestra que en general el tipo de cambio, los costes laborales y la productividad del trabajo fueron los principales determinantes de la evolucion de la competitividad manufacturera en la ultima decada. De hecho, los paises y periodos donde estas variables presentaron un desempeno desfavorable coinciden con perdidas de cuota de mercado en el comercio internacional y deterioro de la competitividad. Sin embargo, el impacto de las demas variables que afectan la competitividad del sector manufacturero tampoco es despreciable. De hecho, las ganancias de competitividad han sido mayores (y las perdidas de competitividad menores) en Chile y Peru, donde se ha logrado mejorar el entorno institucional y reducir o mantener bajo control los costes logisticos y los costes energeticos. English Abstract: After analyzing together the evolution of the exports of the main Latin American countries in the last decade and examining the determinants of the performance of each country on a case-by-case basis, this study concludes that the competitiveness of the manufacturing sector in most of the countries of the region has decreased. from 2007 to 2012, after having evolved relatively favorably between 2002 and 2007. This recent deterioration, which has been more marked in countries such as Brazil and Colombia, is related to maintaining a real appreciated exchange rate , high labor costs and an insufficient progress in the productivity of the workforce. The main exception to these regional trends is Mexico, where gains in competitiveness in the manufacturing sector continued beyond 2007, partly because the exchange rate remained relatively depreciated and labor costs, as well as labor productivity, presented a performance more favorable than in the countries of South America. However, as of 2011, the reversal of these trends is hindering the competitiveness gains of the Mexican manufacturing sector. The case study of each of the main countries of the region shows that, in general, the exchange rate, labor costs and labor productivity were the main determinants of the evolution of manufacturing competitiveness in the last decade. In fact, the countries and periods where these variables presented an unfavorable performance coincide with losses of market share in international trade and deterioration of competitiveness. However, the impact of the other variables that affect the competitiveness of the manufacturing sector is not negligible either. In fact, the competitiveness gains have been greater (and the losses of competitiveness less) in Chile and Peru, where it has been possible to improve the institutional environment and reduce or keep under control the logistic costs and energy costs.

https://doi.org/10.2139/ssrn.3160573