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Convergence Clubs in Latin America

Author

Listed:
  • Barrios, Candelaria
  • Flores, Esther
  • Martínez, M. Ángeles

Abstract

The aim of this work is to identify convergence clubs in 17 Latin American countries in terms of GDP per capita during the period 1990-2014. To do this we apply the methodology developed by Phillips-Sul in order to identify the different convergence clubs on the path of growth in the Latin American economy over this period. The empirical results strongly support the existence of convergence clubs, indicating that the Latin American economy consists of four groups, each converging toward its own steady-state path, with two countries being divergent.

Suggested Citation

  • Barrios, Candelaria & Flores, Esther & Martínez, M. Ángeles, 2019. "Convergence Clubs in Latin America," MPRA Paper 123434, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:123434
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    File URL: https://mpra.ub.uni-muenchen.de/123434/1/MPRA_paper_123434.pdf
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    More about this item

    Keywords

    Keywords: Convergence; club convergence; log t test; Latin America;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • 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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