Abstract

LECHUGA MONTENEGRO, Jesús; VEGA MIRANDA, Faustino  and  VALDES IGLESIAS, Edson. The exchange rate and the oil price: An analysis of the Mexican economy. Contad. Adm [online]. 2023, vol.68, n.1, pp.164-181.  Epub Jan 14, 2025. ISSN 0186-1042.  https://doi.org/10.22201/fca.24488410e.2023.4480.

This research investigates the determinants of the Mexican exchange rate in the period 1994q1-2021q4, emphasizing the relationship between this variable and the price of the Mexican oil mix. Using an ADRL model with error correction, it is concluded that there is an inverse relationship between the exchange rate and the price of oil in the short and long term. This offers empirical evidence in favor of the fact that the variability of the exchange rate has largely been detached from fluctuations in the price of oil; this is because it is assumed that the depetrolization observed in the study period had a determining impact on ethe composition of exports and on public income.

Keywords : exchange rate; oil price; causality; short and long term effects.

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