Abstract

OSORIO CABALLERO, María Isabel. Is Latin America’s Economic Growth Convergence Procyclical?. Inv. Econ [online]. 2019, vol.78, n.307, pp.33-53. ISSN 0185-1667.  https://doi.org/10.22201/fe.01851667p.2019.307.68446.

This paper looks at the hypothesis of conditional convergence of Gross Domestic Product (GDP) per capita for a set of eighteen Latin American countries establishing a positive link with the growth rate of those economies. To that purpose, β-convergence, σ-convergence and γ-convergence analyses are conducted. Furthermore, with the aim of identifying spatial heterogeneity the relationship among neighbor territorial units and product levels are studied applying the I Moran statistics. By and large, a regional convergence path with high conditional β-convergence, a lower dispersion of per capita incomes and a lesser mobility of countries along the ranking are shown to exist.

Keywords : Economic growth; regional convergence; spatial effects; Latin America; O54; O47; R12.

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