Econometric Models of Foreign Trade in OECD Countries

This article presents some econometric models that have into account both supply and demand sides as determinants of real Exports, and the important relationships that exist between industrial development and foreign trade. The models also focus on the positive role that human capital plays to reduce external debt, by fostering the evolution of exports and favouring the increase of imports necessary for industrial development. The dynamic models are estimated with data of 25 OECD countries during the period 1960-97 and we find stability of coefficients among countries.