Trade Liberalisation, the Peso, and Mexico's Commodity Trade Flows with the United States
研究了比索实际贬值以及GATT和NAFTA对墨西哥与美国102个行业贸易收支的影响，发现汇率变动影响有限，而贸易自由化对中间品进口和制成品出口影响更大。
Abstract We assess the effects of real peso devaluations, as well as the effects of GATT and NAFTA, on Mexico's in-payments and out-payments with the United States for 102 industries. We find that relatively few trade flows are sensitive to changes in the real exchange rate, probably due to production-sharing and intra-industry trade, but devaluations affect Mexican imports more than exports. Trade liberalisation has had a larger impact, particularly on imports of intermediate goods and exports of certain manufactures. Many affected export industries are ones that have previously been shown to have economies of scale.