Economic factors and impact on agricultural exports: The case of Colombia compared to different countries

Authors

DOI:

https://doi.org/10.17981/econcuc.43.1.2022.Econ.2

Keywords:

Exports, Foreign Direct Investment, Financial Freedom, Economic index, Tax Burden

Abstract

Exports constitute a key contribution to the economic development of a region, depending on the foreign trade policies and the customs regime of each State, as well as other essential aspects such as established tax regulations, financial freedom indexes, among others. The objective of the research is to identify the most significant economic indicators on international agricultural exports of a total of 159 countries by means of a Multiple Linear Regression model, highlighting those with similar characteristics to Colombia in order to propose a comparative proposal for the improvement of the country's exports. For this purpose, information from three databases is used: Resource Trade Earth, The Heritage Foundation and World Bank. As a result, the estimate obtained finds the most important indicators to explain export performance: Export Region, Tax Burden, Foreign Direct Investment and Financial Freedom. The above allowed inferring that Colombia should decrease the tax burden, increase foreign investment and increase economic freedom to improve its export performance.

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Author Biographies

Marisol Valencia Cárdenas, Institución Universitaria Tecnológico de Antioquia

She is an Industrial Engineer in 2000, a Master's in Statistics in 2010 from the Universidad Nacional de Colombia and a PhD. in Engineering-Industry and Organizations in 2016. Her area of ​​interest is Statistics applied to business, economics, engineering, operations research, such as association models, forecast modeling, study of variable behavior, machine learning, and applied digital trends. She is a research professor at the Institución Universitaria Tecnológico de Antioquia, Faculty of Administrative and Economic Sciences.

Diego Alejandro López Cadavid, Tecnológico de Antioquia Institución Universitaria

He is a professional in International Business in 2020 from the Tecnológico de Antioquia (Medellín, Colombia) and is currently a Master's student in Administrative Engineering at the Universidad Nacional de Colombia (Medellín, Colombia). His research interests focus on the field of international business, international trade, and decision analysis. Currently, he works as a Young Researcher at the Faculty of Administrative and Economic Sciences at the Tecnológico de Antioquia Institución Universitaria.

Daniela Valderrama Castaño, Tecnológico de Antioquia, Institución Universitaria

She graduated as a professional in international business in 2020 from Tecnológico de Antioquia (Medellín, Colombia), has a technology in foreign trade from Tecnológico de Antioquia (Medellín, Colombia). It is currently focused on the commercial area.

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Published

2021-08-07

How to Cite

Valencia Cárdenas, M., López Cadavid, D. A., & Valderrama Castaño, D. (2021). Economic factors and impact on agricultural exports: The case of Colombia compared to different countries. ECONÓMICAS CUC, 43(1), 31–56. https://doi.org/10.17981/econcuc.43.1.2022.Econ.2

Issue

Vol. 43 No. 1 (2022): Enero - Junio 2022

Section

Articles: Economy and Finance

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