The Relative Importance of the Service Sector in the Mexican Economy: A Time Series Analysis

Ramón A. Castillo Ponce (), Carlos Alberto Flores Sánchez () and María de Lourdes Rodríguez Espinosa ()
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Ramón A. Castillo Ponce: California State University
Carlos Alberto Flores Sánchez: Universidad Autónoma de Baja California
María de Lourdes Rodríguez Espinosa: Universidad Tecnológica de la Mixteca

Lecturas de Economía, 2014, issue 80, 133-151

Abstract: We conduct a study of the secondary and tertiary sectors with the goal of highlighting the relative importance of services in the Mexican economy. We consider a time series analysis approach designed to identify the stochastic nature of the series, as well as to define their long-run and-short run relationships with Gross Domestic Product (GDP). The results of cointegration tests suggest that, for the most part, activities in the secondary and tertiary sectors share a common trend with GDP. Interestingly, the long-run elasticities of GDP with respect to services are on average larger than those with respect to secondary activities. Common cycle tests results identify the existence of common cycles between GDP and the disaggregated sectors, as well as with manufacturing, commerce, real estate and transportation. In this case, the short-run elasticities of secondary activities are on average larger than those corresponding to services.

Keywords: Service sector; Mexico; cointegration; common cycles (search for similar items in EconPapers)
JEL-codes: C22 E01 E20 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:lde:journl:y:2014:i:80:p:133-151

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DOI: 10.17533/udea.le.n80a5

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