Centro de Estudios Monetarios y Financieros
Casado del Alisal 5, 28014 Madrid
Institutional Affiliation: CEMFI
Information about this author at RePEc
NBER Working Papers and Publications
|May 2019||Structural Transformation, Industrial Specialization, and Endogenous Growth|
with Juan Manuel Castro Vincenzi, Joan Monras, Jacopo Ponticelli: w25871
The introduction of new technologies in agriculture can foster structural transformation by freeing workers who find occupation in other sectors. The traditional view is that this reallocation of workers towards manufacturing can lead to industrial development. However, when workers moving to manufacturing are mostly unskilled, this process reinforces a country's comparative advantage in unskilled-labor intensive industries. To the extent that these industries undertake less innovative activities, this change in industrial specialization can lead to lower long run growth. We highlight this mechanism in an endogenous growth model and provide empirical evidence using a large and exogenous increase in agricultural productivity due to the legalization of genetically engineered soy in Brazil. ...
|August 2012||Sources of Comparative Advantage in Polluting Industries|
with Fernando Broner, Vasco M. Carvalho: w18337
We study the determinants of comparative advantage in polluting industries. We combine data on environmental policy at the country level with data on pollution intensity at the industry level to show that countries with laxer environmental regulation have a comparative advantage in polluting industries. Further, we address the potential problem of reverse causality. We propose an instrument for environmental regulation based on meteorological determinants of pollution dispersion identi...ed by the atmospheric pollution literature. We find that the effect of environmental regulation on the pattern of trade is causal and comparable in magnitude to the effect of physical and human capital.