6) Ley 26 de 1957 mediante la cual se establecio un sistema de credito subvencionado para cultivos importables
Therefore, the effect of domestic economic policies on the balance of payments can be studied in an analytic framework that treats exportables and importables
as a single aggregate of internationally traded goods.
1]) on the exportable imposed by the CIA constraint is higher than that on the importables
Rather than focusing on the price of importables
relative to exportables, Sjaastad  Sjaastad and Clements  and Clements and Sjaastad  introduced the concept of taking the nontraded good as the numeraire to analyze the degree to which trade policies favor the export sector or the import sector relative to the nontraded good sector.
Within the agricultural sector, direct policies tended to tax exportables, protect importables
, and partially compensate for indirect discrimination through input subsidies.
are the weights of importable
goods in the countries' overall price indices.
pL] is the generalized Rybczynski term for importables
with respect to labor.
Let us then consider the scenario emerging after just 12 months from now when the highest rate of tariff will be brought down to 35%, meaning all types of finished good will be importable
at the maximum rate of 35%, or less.
ij] represents how the output of importables
of good i responds to changes in the domestic price of good j.
are more capital intensive than exportables and the margin has widened over the period.
Terms of trade can be represented by the relationship of the external relative price of exportables to importables
The imposition of the tariff raises the real wage of the factor used intensively in the production of importables
, and lowers the real wage of the other factor, both relatively and absolutely.