Un modelo de coyuntura para la actividad industrial boliviana

A conjuncture model for bolivian industry activity

Beatriz Muriel Hernández

MPRA Paper from University Library of Munich, Germany

Abstract: The objective of this study is to evaluate and quantify the behavior of the industrial sector in Bolivia, identifying its trend and cyclical components, and projecting its behavior into the future. Due to the limited information available, the physical volume index of the manufacturing industry (IQVF), which has quarterly data since 1982, has been chosen as a short-term indicator. The methodology used is based on the following aspects. First, the series (in logarithms and seasonally adjusted by the X-11 method) is based on the specification of the ARIMA model that best fits the data, according to the Akaike and Schwarz criteria. Subsequently, the index is projected for four periods at the front of the sample, evaluating the predictive capacity of the model through the Theil inequality coefficient (U). Finally, the IQVF series is disaggregated into its trend and cyclical components, using the Hodrick and Prescott and Band Pass filters. The decomposition of the series allows us to clearly identify two long-term states in its underlying evolution. The first, which occurred in the eighties, marks an accelerated growth of the index, and the second, which occurs in the nineties, shows a relative stagnation in its development, with no prospect of improvement for 1999. The diagnosis of the industrial indicator as described above does not show the causes or determinants of this behavior; however, it does show the need to develop policies that will effectively stimulate the sector. To this end, it is advisable to study in more detail the main factors affecting the manufacturing industry, in order to stimulate those that are positive, such as physical and human capital, and to combat those that are negative, such as smuggling.

Keywords: Business cycle; Manufacturing industry; Time series; Industrial growth (search for similar items in EconPapers)
JEL-codes: C22 E32 L60 O14 O5 O54 (search for similar items in EconPapers)
Date: 1999-09
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/124591/1/MPRA_paper_124591.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:124591

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().