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La distribución del crecimiento económico en España.1955-1993

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Listed:
  • HERRERA REVUELTA, J.

    (Universidad de Valladolid)

  • SANTAMARÍA FIDALGO, J.

    (Universidad de Valladolid)

Abstract

La convergencia entendida por la definición de Barro (1988) tiene como base teórica un modelo de crecimiento neoclásico donde el estado estacionario final es un nivel de producción per cápita que no crece en el tiempo, donde las diferencias entre las economías radican en factores institucionales que hacen diferente ese estado estacionario. Mankiw, Romer y Weill (1992), proponen un modelo deferente donde el estado estacionario es una tasa de crecimiento de la producción per cápita y no un nivel. En este caso, demuestran que los parámetros econométricos que miden la convergencia se refieren a la convergencia de cada economía a su propio estado estacionario y no de éstas entre sí. Recientemente, Angel de la Fuente(1998), obtiene que las economías obtienen un 25% de convergencia entre sus producciones per cápita por la actuación de los factores económicos. En este trabajo pretendemos contribuir al debate de la convergencia cuestionando uno de los supuestos implícitos del modelo que sirve de base para analizar la convergencia, cual es el de que el estado estacionario (tasa de crecimiento de largo plazo) sea el mismo para las diferentes economías. Utilizando la metodología de raíces unitarias desarrollada a partir de Perron(1988), Zivot y Andrews(1992) y Ben- David y Papell(1994) entre otros, calculamos las diferentes tasas de crecimiento de largo plazo en la CCAA españolas y analizamos la posibilidad de convergencia. The definition of convergence due to Barro(1988) has a theoretical basis the neoclassical growth model where the steady state is a constant per capita GDP that it does not growth on time, where the differences among regions are due to institutional factors. Mankiw, Romer and Weill(1992), proposed a different model where the steady state is a constant growth rate of per capita GDP. They show taht econometric paarameters that measure the convergence make reference to own economy convergence instead of convergence among them. Recently, Aqngel de la Fuente(1998) obtain taht only the 25% of the convergenge among economies is due to economic factors. In this paper we try to contribute to the debate over convergenge relaxing one of the implicit assumptions of the model using to stady convergence, such that the steady state growth rate is the same for all economies. Using unit root methodologie devolopped from Perron(1988), Zivot and Andrews(1992), and Ben-David and Pappell(1994), among others, we compute the steady state growth rates for the spanish CCAA and we analyse the convergence.

Suggested Citation

  • Herrera Revuelta, J. & Santamaría Fidalgo, J., 2000. "La distribución del crecimiento económico en España.1955-1993," Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 14, pages 73-94, Abril.
  • Handle: RePEc:lrk:eeaart:14_1_6
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    References listed on IDEAS

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    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Ben-David, Dan & Papell, David, 1994. "The Great Wars, the Great Crash, and the Unit Root Hypothesis: Some New Evidence About An Old Stylized Fact," CEPR Discussion Papers 965, C.E.P.R. Discussion Papers.
    3. de la Fuente, Angel, 2002. "On the sources of convergence: A close look at the Spanish regions," European Economic Review, Elsevier, vol. 46(3), pages 569-599, March.
    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. N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 107(2), pages 407-437.
    6. Edwards, Sebastian, 1993. "Openness, Trade Liberalization, and Growth in Developing Countries," Journal of Economic Literature, American Economic Association, pages 1358-1393.
    7. Fabio Canova & Albert Marcet, 1995. "The poor stay poor: Non-convergence across countries and regions," Economics Working Papers 137, Department of Economics and Business, Universitat Pompeu Fabra, revised Jun 1999.
    8. Easterly, William & Rebelo, Sergio, 1993. "Fiscal policy and economic growth: An empirical investigation," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 417-458, December.
    9. Robert J. Barro & Xavier Sala-i-Martin, 1991. "Convergence across States and Regions," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, pages 107-182.
    10. Perron, Pierre, 1989. "The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis," Econometrica, Econometric Society, vol. 57(6), pages 1361-1401, November.
    11. Ezequiel Uriel Jiménez & Francisco Pérez García & Matilde Mas Ivars & Joaquín Maudos Villarroya, 1993. "Disparidades Regionales Y Convergencia En Las Cc.Aa. Españolas," Working Papers. Serie EC 1993-05, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    12. Barro, Robert J & Sala-i-Martin, Xavier, 1992. "Convergence," Journal of Political Economy, University of Chicago Press, vol. 100(2), pages 223-251, April.
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    Keywords

    Crecimiento; Convergencia; Test de Raíces Unitarias.;

    JEL classification:

    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General

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