<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>2448-7678</journal-id>
<journal-title><![CDATA[Investigación administrativa]]></journal-title>
<abbrev-journal-title><![CDATA[Investig. adm.]]></abbrev-journal-title>
<issn>2448-7678</issn>
<publisher>
<publisher-name><![CDATA[Instituto Politécnico Nacional, Escuela Superior de Comercio y Administración]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2448-76782018000200002</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Evolución de la apertura comercial y el riesgo país en México]]></article-title>
<article-title xml:lang="en"><![CDATA[Evolution of commercial openness and country risk in Mexico]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Gurrola Ríos]]></surname>
<given-names><![CDATA[Cesar]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Loera Álvarez]]></surname>
<given-names><![CDATA[América]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Juárez del Estado de Durango Facultad de Economía, Contaduría y Administración División de Estudios de Posgrado]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>México</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad Juárez del Estado de Durango Facultad de Economía, Contaduría y Administración ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>México</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2018</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2018</year>
</pub-date>
<volume>47</volume>
<numero>122</numero>
<fpage>0</fpage>
<lpage>0</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S2448-76782018000200002&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S2448-76782018000200002&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S2448-76782018000200002&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Evidencia empírica, especialmente en economías emergentes, sugiere una relación directa entre las reformas estructurales adoptadas por los gobiernos, como la reducción de las barreras al comercio internacional, y las crisis que se han propagado mediante los mercados financieros. El objetivo del estudio es analizar las relaciones dinámicas entre el incremento del comercio con el exterior, como indicador de la apertura comercial y el riesgo país, en México. Mediante una metodología VAR, los resultados revelan que ambos componentes de la balanza comercial impactan en el EMBI aunque las importaciones con mayor peso. Adicionalmente, los resultados sugieren que los shocks del EMBI ocasionan efectos negativos sobre importaciones y exportaciones, asimismo la balanza comercial responde en sentido de Granger al EMBI. La originalidad del estudio radica en ser uno de los pocos intentos por analizar la relación de ambos fenómenos en México. Entre las potenciales limitaciones del estudio destacan la falta de acceso a un mayor número de observaciones longitudinales junto a la presencia de rupturas estructurales en las series modeladas.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract Empirical evidence, especially in emerging economies, suggests a direct relationship between the structural reforms adopted by governments, such as the reduction of barriers to international trade, and the crises that have spread through financial markets. The objective of the study is to analyze the dynamic relationships between the increase in trade with foreign countries, as an indicator of trade openness and country risk, in Mexico. Through a VAR methodology, the results reveal that both components of the trade balance impact on the EMBI although the imports with greater weight. Additionally, the results suggest that the EMBI shocks have negative effects on imports and exports, and the trade balance also responds in the Granger sense to the EMBI. The originality of the study lies in being one of the few attempts to analyze the relationship of both phenomena in Mexico. Among the potential limitations of the study is the lack of access to a greater number of longitudinal observations together with the presence of structural ruptures in the modeled series.]]></p></abstract>
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<kwd lng="en"><![CDATA[Trade openness]]></kwd>
<kwd lng="en"><![CDATA[country risk]]></kwd>
<kwd lng="en"><![CDATA[VAR]]></kwd>
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