Exports and Economic Growth in Boyacá Colombia 1980-2015

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Autores

Willyam Cáceres Rodríguez http://orcid.org/0000-0003-1066-6028
Omaira Inés Agudelo-Cely http://orcid.org/0000-0002-7932-1629
Ricardo Alonso Tejedor-Estupiñán http://orcid.org/0000-0002-5877-846X

Abstract

This article analyses the relationship between Boyacá’s gross domestic product and its exports from 1980 to 2015. Evidence is found to validate the hypothesis that affirms that economic growth is strongly influenced by exports. A time series econometric model (VAR) is used. The results obtained through the application of the Johansen cointegration test and the Granger causality test indicate that mainly industrial exports and, to a lesser degree, primary exports, cause a positive impact on the gross product
of exports. The impulse-response tests also corroborate this relation. The above confirms the importance of foreign trade as a means of enhancing the comparative advantages that Boyacá’s export supply offers.

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