Are South American Countries Really Converging?: The Influence of the Region's Integration Projects

Andrea Gabriela Bonilla-Bolaños

Journal for Economic Forecasting, 2017, issue 3, 130-149

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)
JEL-codes: C32 O40 O54 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:rjr:romjef:v::y:2017:i:3:p:130-149

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