Abstract

RODRIGUEZ BENAVIDES, Domingo; PERROTINI HERNANDEZ, Ignacio  and  VENEGAS-MARTINEZ, Francisco. La hipótesis de convergencia en América Latina: Un análisis de cointegración en panel. EconoQuantum [online]. 2012, vol.9, n.2, pp.99-122. ISSN 2007-9869.

This paper examines the hypothesis of convergence to the U.S. economy for a sample of 17 Latin American countries by using unit root tests and panel cointegration for the period 1970-2010. The unit root tests applied to the panel restricted version of the test is inconclusive with respect to the convergence hypothesis for this sample of countries. Although most of the panel cointegration tests suggest that income per capita of the considered economies have a relationship of stable equilibrium and long-term per capita income of the United States, the leading economy. Estimates made with the methods of Mark and Sul (2003) and Kao and Chiang (2000) of the unrestricted version of the panel model indicate that the estimated parameter is below the unit. According to the obtained results, no evidence supports the absolute convergence hypothesis for the studied sample of countries in Latin America, thus validating the idea of conditional convergence.

Keywords : modelos econométricos; crecimiento económico; economías latinoamericanas.

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