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Abstract
The paper discussed the main factors that explain the Brazilian
agricultural exports. In order to achieve this goal, the paper applied
a gravity model that includes fixed and random effects estimations,
besides the Ordinary Least Squares (OLS) approach. Distance, trade
partners´ GDP, and geographical localization were the significant variables. Moreover, puzzle effects are associated to exchange rate,
partners´ agricultural exports profile and the partners´ agricultural
share in GDP. Finally, this study highlights the potential change of the
relevant variables because of specific characteristics of each commercial
Brazilian partner.