CONVERGENCE AND LONG-RUN UNCERTAINTY

In this paper the neoclassical convergence hypothesis is tested for the thirteen regions of Chile using cross-section techniques and the time-series based tests proposed by Bernard, A. and S. Durlauf, 1995, "Convergence in International Output", Journal of Applied Econometrics 10 (2), pp....

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Autor principal:	PINCHEIRA,PABLO M
Lenguaje:	English
Publicado:	ILADES. Universidad Alberto Hurtado. 2014
Materias:	Convergence hypothesis economic growth Bayesian model averaging cointegration Chile Hipótesis de convergencia crecimiento económico promedio bayesiano cointegración
Acceso en línea:	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-88702014000100002
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spelling	oai:scielo:S0718-887020140001000022014-05-13CONVERGENCE AND LONG-RUN UNCERTAINTYPINCHEIRA,PABLO M Convergence hypothesis economic growth Bayesian model averaging cointegration Chile Hipótesis de convergencia crecimiento económico promedio bayesiano cointegración Chile In this paper the neoclassical convergence hypothesis is tested for the thirteen regions of Chile using cross-section techniques and the time-series based tests proposed by Bernard, A. and S. Durlauf, 1995, "Convergence in International Output", Journal of Applied Econometrics 10 (2), pp. 97-108. Cross-section analysis in combination with a Bayesian Modeling Averaging strategy supports the convergence hypothesis, despite of some instability detected in the estimated speed of convergence. When applying time-series based tests, the no convergence null hypothesis cannot be rejected at the usual significance levels. When clustering the Chilean regions into three different groups, however, evidence of cointegration within these groups is found, indicating that the regional growth process in Chile is driven by a lower number of common trends.info:eu-repo/semantics/openAccessILADES. Universidad Alberto Hurtado.Revista de análisis económico v.29 n.1 20142014-04-01text/htmlhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-88702014000100002en10.4067/S0718-88702014000100002
institution	Scielo Chile
collection	Scielo Chile
language	English
topic	Convergence hypothesis economic growth Bayesian model averaging cointegration Chile Hipótesis de convergencia crecimiento económico promedio bayesiano cointegración Chile
spellingShingle	Convergence hypothesis economic growth Bayesian model averaging cointegration Chile Hipótesis de convergencia crecimiento económico promedio bayesiano cointegración Chile PINCHEIRA,PABLO M CONVERGENCE AND LONG-RUN UNCERTAINTY
description	In this paper the neoclassical convergence hypothesis is tested for the thirteen regions of Chile using cross-section techniques and the time-series based tests proposed by Bernard, A. and S. Durlauf, 1995, "Convergence in International Output", Journal of Applied Econometrics 10 (2), pp. 97-108. Cross-section analysis in combination with a Bayesian Modeling Averaging strategy supports the convergence hypothesis, despite of some instability detected in the estimated speed of convergence. When applying time-series based tests, the no convergence null hypothesis cannot be rejected at the usual significance levels. When clustering the Chilean regions into three different groups, however, evidence of cointegration within these groups is found, indicating that the regional growth process in Chile is driven by a lower number of common trends.
author	PINCHEIRA,PABLO M
author_facet	PINCHEIRA,PABLO M
author_sort	PINCHEIRA,PABLO M
title	CONVERGENCE AND LONG-RUN UNCERTAINTY
title_short	CONVERGENCE AND LONG-RUN UNCERTAINTY
title_full	CONVERGENCE AND LONG-RUN UNCERTAINTY
title_fullStr	CONVERGENCE AND LONG-RUN UNCERTAINTY
title_full_unstemmed	CONVERGENCE AND LONG-RUN UNCERTAINTY
title_sort	convergence and long-run uncertainty
publisher	ILADES. Universidad Alberto Hurtado.
publishDate	2014
url	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-88702014000100002
work_keys_str_mv	AT pincheirapablom convergenceandlongrununcertainty
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CONVERGENCE AND LONG-RUN UNCERTAINTY

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