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Convergencia económica en la OPEP: 1970-2017 || Economic convergence in OPEC: 1970-2017

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  • Martínez Gámez, Ángel Enrique

    (Universidad Católica Andrés Bello (Venezuela))

Abstract

Los estudios sobre crecimiento económico se han ampliado y enfocado en la denominada hipótesis de convergencia, que abarca regiones, territorios y grupo de países. La idea principal establece cómo en el largo plazo las regiones más pobres terminan alcanzando a las más ricas tomando como variable objeto de estudio el Producto Interno Bruto per cápita (PIBpc). En este trabajo se analiza el fenómeno de convergencia económica en la Organización de Países Exportadores de Petróleo (OPEP), poco considerado en estudios relacionados con la Organización, el cual ofrece una visión ampliada al respecto. Mediante una estimación y análisis de datos de panel para el período 1970-2017, se elabora un modelo econométrico basado en la literatura, con diversas ecuaciones, períodos, variables y conjunto de países dentro de la Organización. Los resultados muestran principalmente convergencia y formación de clubes de convergencia entre estas economías y una dinámica del crecimiento determinada por el capital humano y el capital físico.|| Studies in economic growth have focused on the convergence hypothesis for regions, territories and groups of countries. The main idea is that on the long run, the poorer regions would catch up to the richer in terms of Gross Domestic Product Per Capita. This paper analyses the economic convergence in the Organization of Petroleum Exporting Countries (OPEC), not considered in studies related to the organization, which offers an expanded view on the matter. Utilizing an estimation and panel data analysis for the period 1970-2017, it indicates whether the gaps between countries belonging to the block have tended to be reduced or widened, and for this, an econometric model based on the literature is developed, with different equations, periods, variables and set of countries within the OPEC. The results mainly show convergence and the formation of convergence clubs between these economies, and a growth dynamic determined by human capital and physical capital.

Suggested Citation

  • Martínez Gámez, Ángel Enrique, 2021. "Convergencia económica en la OPEP: 1970-2017 || Economic convergence in OPEC: 1970-2017," Revista de Métodos Cuantitativos para la Economía y la Empresa = Journal of Quantitative Methods for Economics and Business Administration, Universidad Pablo de Olavide, Department of Quantitative Methods for Economics and Business Administration, vol. 32(1), pages 175-213, December.
  • Handle: RePEc:pab:rmcpee:v:32:y:2021:i:1:p:175-213
    DOI: https://doi.org/10.46661/revmetodoscuanteconempresa.4569
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    Keywords

    modelos con data panel; crecimiento económico; estudios empíricos de convergencia; data panel models; economic growth; empirical convergence studies;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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