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This paper analyses the evolution of Chile's trade between 1990 and 2007, studying in particular the impact of trade liberalization in addition to traditional price and demand determinants. The results show that export and import flows are mainly responsive to external and domestic demand, and less so to relative prices, although there is a small impact on imports. In addition, the analysis suggests that trade liberalization may have played a role in increasing exports and imports. Estimations of trade elasticities for other countries in Latin America tend to confirm the results found for Chile.

Exports --- Imports --- Prices --- Chile --- Commercial policy. --- Commercial products --- Commodity prices --- Justum pretium --- Price theory --- Chili --- Cile --- Chih-li --- Ts'ileh --- República de Chile --- Republic of Chile --- チリ --- Chiri --- Чили --- Çili Respublikası --- Чылі --- Chyli --- Рэспубліка Чылі --- Rėspublika Chyli --- Tsile --- Republika Čile --- Xile --- República de Xile --- Chilská republika --- Gweriniaeth Tsile --- Republikken Chile --- Republik Chile --- Chilska --- Republika Chilska --- Tšiili --- Tšiili Vabariik --- Χιλή --- Δημοκρατία της Χιλής --- Dēmokratia tēs Chilēs --- Cîl --- Чили Мастор --- Chili Mastor --- Чили Республикась --- Chili Respublikasʹ --- Ĉilio --- Ĉilia Respubliko --- Repúbrica de Chili --- Txile --- Txileko Errepublika --- Kili --- Lýðveldið Kili --- République du Chili --- Sily --- Ciile --- Ndenndaandi Ciile --- An tSile --- Yn Çhillee --- Çhillee --- Pobblaght ny Shillee --- Shillee --- An t-Sile --- t-Sile --- Tilì --- Poblachd na Sile --- Чилмудин Орн --- Chilmudin Orn --- Ch'ille --- Lepupalika ʻo Chile --- Republik Chili --- iChile --- ITshile --- Síle --- Lýðveldið Síle --- Repubblica del Cile --- צ'ילה --- Tsilah --- רפובליקה של צ'ילה --- Republiḳah shel Tsilah --- Consumption (Economics) --- Cost --- Costs, Industrial --- Money --- Cost and standard of living --- Supply and demand --- Value --- Wages --- Willingness to pay --- International trade --- Exports and Imports --- Foreign Exchange --- Economic Theory --- Trade: General --- Trade Policy --- International Trade Organizations --- Agriculture: Aggregate Supply and Demand Analysis --- International economics --- Currency --- Foreign exchange --- Economic theory & philosophy --- Trade liberalization --- Real effective exchange rates --- Demand elasticity --- Commercial policy --- Elasticity --- Economics

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The Basel Committee on Banking Supervision has proposed linking capital requirements for bank loans to ratings by commercial credit rating agencies. Estimates for 20 emerging market economies show that sovereign ratings react procyclically to crisis indicators. Ratings deteriorate if the real effective exchange rate depreciates, in contrast with the positive effect on overall debt service capacity depreciations are normally supposed to have. Simulations show that linking capital requirements to ratings would have drastically increased these requirements during the crisis periods after decreasing them in the run up to the crises. Simulations suggest modest efficiency gains of using sovereign credit ratings for capital requirements on emerging market lending.

Banks and Banking --- Finance: General --- Foreign Exchange --- Industries: Financial Services --- Money and Monetary Policy --- Financial Institutions and Services: Government Policy and Regulation --- Business Fluctuations --- Cycles --- International Lending and Debt Problems --- General Financial Markets: General (includes Measurement and Data) --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- General Financial Markets: Government Policy and Regulation --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Finance --- Financial services law & regulation --- Currency --- Foreign exchange --- Banking --- Monetary economics --- Emerging and frontier financial markets --- Loans --- Basel Core Principles --- Real effective exchange rates --- Financial markets --- Financial institutions --- Financial regulation and supervision --- Bank credit --- Money --- Financial services industry --- Banks and banking --- State supervision --- Credit --- Korea, Republic of