Real convergence: empirical evidence for Latin America

Astrid Ayala, Juncal Cuñado () and Luis Gil-Alana

Applied Economics, 2013, vol. 45, issue 22, 3220-3229

Abstract: This article investigates the real convergence of 17 Latin American countries to the US economy for the period 1950 to 2011. Time series methods are used to test stochastic and β-convergence. These methods include the possibility of one or two structural changes. The results show that when endogenous structural changes are considered several Latin American countries exhibit stochastic convergence. Nevertheless, real convergence to the US is found only for three Latin American countries: Chile, Costa Rica and Trinidad and Tobago, with these countries also presenting evidence of stochastic and β-convergence.

Date: 2013
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DOI: 10.1080/00036846.2012.703317

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