The endogeneity of the natural rate of growth - an empirical study for Latin-American countries

Lena Vogel
Authors registered in the RePEc Author Service: Lena Dräger

International Review of Applied Economics, 2009, vol. 23, issue 1, 41-53

Abstract: The aim of this paper is to analyse the sensitivity of the natural rate of growth to the actual rate of growth for a sample of 11 Latin-American countries, assuming the natural rate to be determined endogenously by changes in the actual rate of growth. The natural rates of growth are estimated in a system of SUR estimations over the period 1986-2003. In order to determine whether they react endogenously to changes in the actual rate of growth, a dummy variable for boom periods is added to the system of regressions. The results confirm the hypothesis about the endogeneity of the natural rate of growth.

Keywords: natural rate of growth; actual rate of growth; endogeneity; Latin America; seemingly unrelated regressions (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (18)

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Working Paper: The Endogeneity of the Natural Rate of Growth – an Empirical Study for Latin-American Countries (2007)
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DOI: 10.1080/02692170802496869

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