The endogeneity of the natural rate of growth - an empirical study for Latin-American countries
AbstractThe aim of this paper is to analyse the sensitivity of the natural rate of growth to the actual rate of growth for a sample of 11 Latin-American countries, assuming the natural rate to be determined endogenously by changes in the actual rate of growth. The natural rates of growth are estimated in a system of SUR estimations over the period 1986-2003. In order to determine whether they react endogenously to changes in the actual rate of growth, a dummy variable for boom periods is added to the system of regressions. The results confirm the hypothesis about the endogeneity of the natural rate of growth.
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Bibliographic InfoArticle provided by Taylor and Francis Journals in its journal International Review of Applied Economics.
Volume (Year): 23 (2009)
Issue (Month): 1 ()
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Other versions of this item:
- Lena Vogel, 2007. "The Endogeneity of the Natural Rate of Growth – an Empirical Study for Latin-American Countries," Macroeconomics and Finance Series 200704, Hamburg University, Department Wirtschaft und Politik.
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Longitudinal Data; Spatial Time Series
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