An Examination of the Convergence in the Output of South American Countries: The Influence of the Region's Integration Projects

Andrea Bonilla
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Andrea Bonilla: GATE Lyon Saint-Étienne - Groupe d'Analyse et de Théorie Economique Lyon - Saint-Etienne - ENS de Lyon - École normale supérieure de Lyon - Université de Lyon - UL2 - Université Lumière - Lyon 2 - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon - UJM - Université Jean Monnet - Saint-Étienne - CNRS - Centre National de la Recherche Scientifique

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Abstract: Since 2000, South American economies have undertaken several regional projects to eliminate socioeconomic inequalities and improve citizens' living standards. This study evaluates the convergence in real GDP per-capita, as a suitable proxy measure, of 10 Unasur members, namely Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Peru, Uruguay, Paraguay, and Venezuela, for the period 1951-2011. By relying on cointegration techniques and applying Bernard and Durlauf's (1995) stochastic definitions of convergence and common trends, the presented evidence supports the existence of common long-run trends driving output in South America, meaning that the region is involved in a dynamic process of convergence in living standards.

Keywords: Cointegration; Convergence; Economic integration; South America; Unasur (search for similar items in EconPapers)
Date: 2014
New Economics Papers: this item is included in nep-lam and nep-ppm
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