Latin American growth cycles. Empirical evidence: 1960 - 2000

Ana Cerro () and Jose Pineda ()

Estudios de Economia, 2002, vol. 29, issue 1 Year 2002, 89-108

Abstract: This paper measures and explains to what extent Latin American countries’ growth cycles experienced co-movement in the last forty years, using different methodologies. We find that short lasting cycles showed a great dispersion among cyclical correlation, while long lasting ones displayed considerable co-movement. From the structural VAR approach, the results imply a very low degree of co-movement among the shocks affecting these economies. There exist important differences regarding the speed of adjustment and the excess volatility of demand shocks. Processes of integration among Latin-American countries need more policy coordination prior to any attempt to go further in an economic integration process.

Keywords: Trend-cycle decomposition; Common cycles; Cointegration. (search for similar items in EconPapers)
JEL-codes: E3 F3 (search for similar items in EconPapers)
Date: 2002
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:udc:esteco:v:29:y:2002:i:1:p:89-108

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