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Long run dynamics of regional growth in Chile

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  • Carlos Oyarzún
  • Iván Araya

    ()

Abstract

The aim of this article is to examine the process of economic growth in the regions of Chile using a time series approach.In particular,we test the hypothesis of a unit root in the log of the ratios of per capita product between every possible pair taken from the 13 regions.The ‘acceptance’ of the null hypothesis means that the ratio of the per capita product doesn’t tend to revert to a deterministic constant value and therefore,one of the definitions of convergence in Bernard and Durlauf (1996) is violated.We have found that there are two groups of regions that show within-group convergence but the two groups don’t converge.Also,there are two regions that don ’t converge with any other region of the country.

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Bibliographic Info

Article provided by University of Chile, Department of Economics in its journal Estudios de Economia.

Volume (Year): 28 (2001)
Issue (Month): 1 Year 2001 (June)
Pages: 69-78

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Handle: RePEc:udc:esteco:v:28:y:2001:i:1:p:69-78

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Web page: http://www.econ.uchile.cl/
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Related research

Keywords: Convergence; Cointegration; Unit root tests; Level Shifts; Chilean Economy.;

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References

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  1. Bernard, A.B. & Durlauf, S.N., 1994. "Interpreting Tests of the Convergence Hypothesis," Working papers 9401r, Wisconsin Madison - Social Systems.
  2. Perron, Pierre, 1990. "Testing for a Unit Root in a Time Series with a Changing Mean," Journal of Business & Economic Statistics, American Statistical Association, vol. 8(2), pages 153-62, April.
  3. Vogelsang, T.I. & Perron, P., 1991. "Nonstationary and Level Shifts With An Application To Purchasing Power Parity," Papers 359, Princeton, Department of Economics - Econometric Research Program.
  4. Zivot, Eric & Andrews, Donald W K, 2002. "Further Evidence on the Great Crash, the Oil-Price Shock, and the Unit-Root Hypothesis," Journal of Business & Economic Statistics, American Statistical Association, vol. 20(1), pages 25-44, January.
  5. Perron, Pierre & Vogelsang, Timothy J, 1992. "Testing for a Unit Root in a Time Series with a Changing Mean: Corrections and Extensions," Journal of Business & Economic Statistics, American Statistical Association, vol. 10(4), pages 467-70, October.
  6. Sala-i-martin, X., 1995. "The Classical Approach to Convergence Analysis," Papers 734, Yale - Economic Growth Center.
  7. Bernard, Andrew B & Durlauf, Steven N, 1995. "Convergence in International Output," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 10(2), pages 97-108, April-Jun.
  8. Mankiw, N Gregory & Romer, David & Weil, David N, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, MIT Press, vol. 107(2), pages 407-37, May.
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Citations

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Cited by:
  1. Escobari, Diego, 2011. "Testing for Stochastic and Beta-convergence in Latin American Countries," MPRA Paper 36741, University Library of Munich, Germany.
  2. Gonzalo Duran, 2005. "Subsidios de Educación: Impacto en la Migración y Convergencia Regional," Public Economics 0512007, EconWPA.
  3. Klaus Schmidt-Hebbel, 2006. "Chile's Economic Growth," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 43(127), pages 5-48.
  4. Roberto Duncan & J. Rodrigo Fuentes, 2005. "Convergencia Regional en Chile: Nuevos Tests, Viejos Resultados," Working Papers Central Bank of Chile 313, Central Bank of Chile.
  5. Acuña, Andrés, 2006. "Desempleo y Actividad Económica Regional: Un Enfoque Cíclico
    [Unemployment and Regional Economic Activity: A Cyclical Approach]
    ," MPRA Paper 8275, University Library of Munich, Germany, revised Mar 2006.
  6. Jorge Dresdner & Carlos Sanhueza, 2009. "NOTA TECNICA: Estimación de Series de Salarios Regionales en Chile," Estudios de Economia, University of Chile, Department of Economics, vol. 36(2 Year 20), pages 243-261, December.
  7. Pablo Pincheira, 2006. "Convergence and Long Run Uncertainty," Working Papers Central Bank of Chile 391, Central Bank of Chile.

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