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Economic liberalization and external shocks. The hypothesis of convergence revisited for the Mexican states, 1994–2015

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  • Felipe J. Fonseca
  • Irving Llamosas‐Rosas
  • Erick Rangel‐González

Abstract

We study the convergence hypothesis for Mexican states during the period 1994–2015 considering the impact not only of NAFTA but also of other external shocks, such as China’s entry into the World Trade Organization (WTO) in 2001 and the global financial crisis of 2008. Using econometric panel data models with no fixed effects to avoid small sample bias, the main results indicate: (a) presence of absolute divergence, consistent with a sigma process divergence, particularly in the period after the outbreak of the global crisis of 2008; and (b) a process of weakening conditional convergence across the sub‐periods analyzed.

Suggested Citation

  • Felipe J. Fonseca & Irving Llamosas‐Rosas & Erick Rangel‐González, 2019. "Economic liberalization and external shocks. The hypothesis of convergence revisited for the Mexican states, 1994–2015," Growth and Change, Wiley Blackwell, vol. 50(1), pages 285-300, March.
    • Handle: RePEc:bla:growch:v:50:y:2019:i:1:p:285-300
    DOI: 10.1111/grow.12277
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    Cited by:

    1. Castellanos-Sosa, Francisco A. & Cabral, René & Mollick, André Varella, 2022. "Energy reform and energy consumption convergence in Mexico: A spatial approach," Structural Change and Economic Dynamics, Elsevier, vol. 61(C), pages 336-350.
    2. Gregory Brock, 2020. "The real Oaxaca decomposition: convergence within Mexico’s Oaxaca region in the twenty-first century—Do types of crime and religious belief matter?," Economic Change and Restructuring, Springer, vol. 53(4), pages 543-569, November.
    3. Gómez-Zaldívar, Manuel & Garcia-Barragan, Fernando, 2022. "Trade Integration and Intra-national Business Cycle Synchronization: Evidence from Mexico’s States from 1980 to 2019," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 37(2), pages 216-234.

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