REEXAMINING THE LINK BETWEEN INSTABILITY AND GROWTH IN LATIN AMERICA: A DYNAMIC PANEL DATA ESTIMATION USING K-MEDIAN CLUSTERS

We estimate a dynamic panel data model to assess the relationship between different levels of instability-proxied by growth volatility and inflation- and growth in Latin America from 1960 to 2011. Outlying observations could be mistakenly treated as thresholds or regime switch. Hence we use k-median...

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Autores principales:	Bermúdez,Cecilia, Dabús,Carlos D, González,Germán H
Lenguaje:	English
Publicado:	Pontificia Universidad Católica de Chile. Instituto de Economía. 2015
Materias:	instability growth Latin America clustering
Acceso en línea:	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0719-04332015000100001
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spelling	oai:scielo:S0719-043320150001000012015-09-22REEXAMINING THE LINK BETWEEN INSTABILITY AND GROWTH IN LATIN AMERICA: A DYNAMIC PANEL DATA ESTIMATION USING K-MEDIAN CLUSTERSBermúdez,CeciliaDabús,Carlos DGonzález,Germán H instability growth Latin America clustering We estimate a dynamic panel data model to assess the relationship between different levels of instability-proxied by growth volatility and inflation- and growth in Latin America from 1960 to 2011. Outlying observations could be mistakenly treated as thresholds or regime switch. Hence we use k-median clustering to mitigate the outlier problem and properly identify "scenarios" of instability. Our key findings are that while high inflation is harmful, low inflation is in fact positively related to growth. Volatility is also found to be significant and negative, but with no differential effect- between low and high levels-on growth.info:eu-repo/semantics/openAccessPontificia Universidad Católica de Chile. Instituto de Economía.Latin american journal of economics v.52 n.1 20152015-05-01text/htmlhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0719-04332015000100001en10.7764/LAJE.52.1.1
institution	Scielo Chile
collection	Scielo Chile
language	English
topic	instability growth Latin America clustering
spellingShingle	instability growth Latin America clustering Bermúdez,Cecilia Dabús,Carlos D González,Germán H REEXAMINING THE LINK BETWEEN INSTABILITY AND GROWTH IN LATIN AMERICA: A DYNAMIC PANEL DATA ESTIMATION USING K-MEDIAN CLUSTERS
description	We estimate a dynamic panel data model to assess the relationship between different levels of instability-proxied by growth volatility and inflation- and growth in Latin America from 1960 to 2011. Outlying observations could be mistakenly treated as thresholds or regime switch. Hence we use k-median clustering to mitigate the outlier problem and properly identify "scenarios" of instability. Our key findings are that while high inflation is harmful, low inflation is in fact positively related to growth. Volatility is also found to be significant and negative, but with no differential effect- between low and high levels-on growth.
author	Bermúdez,Cecilia Dabús,Carlos D González,Germán H
author_facet	Bermúdez,Cecilia Dabús,Carlos D González,Germán H
author_sort	Bermúdez,Cecilia
title	REEXAMINING THE LINK BETWEEN INSTABILITY AND GROWTH IN LATIN AMERICA: A DYNAMIC PANEL DATA ESTIMATION USING K-MEDIAN CLUSTERS
title_short	REEXAMINING THE LINK BETWEEN INSTABILITY AND GROWTH IN LATIN AMERICA: A DYNAMIC PANEL DATA ESTIMATION USING K-MEDIAN CLUSTERS
title_full	REEXAMINING THE LINK BETWEEN INSTABILITY AND GROWTH IN LATIN AMERICA: A DYNAMIC PANEL DATA ESTIMATION USING K-MEDIAN CLUSTERS
title_fullStr	REEXAMINING THE LINK BETWEEN INSTABILITY AND GROWTH IN LATIN AMERICA: A DYNAMIC PANEL DATA ESTIMATION USING K-MEDIAN CLUSTERS
title_full_unstemmed	REEXAMINING THE LINK BETWEEN INSTABILITY AND GROWTH IN LATIN AMERICA: A DYNAMIC PANEL DATA ESTIMATION USING K-MEDIAN CLUSTERS
title_sort	reexamining the link between instability and growth in latin america: a dynamic panel data estimation using k-median clusters
publisher	Pontificia Universidad Católica de Chile. Instituto de Economía.
publishDate	2015
url	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0719-04332015000100001
work_keys_str_mv	AT bermudezcecilia reexaminingthelinkbetweeninstabilityandgrowthinlatinamericaadynamicpaneldataestimationusingkmedianclusters AT dabuscarlosd reexaminingthelinkbetweeninstabilityandgrowthinlatinamericaadynamicpaneldataestimationusingkmedianclusters AT gonzalezgermanh reexaminingthelinkbetweeninstabilityandgrowthinlatinamericaadynamicpaneldataestimationusingkmedianclusters
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REEXAMINING THE LINK BETWEEN INSTABILITY AND GROWTH IN LATIN AMERICA: A DYNAMIC PANEL DATA ESTIMATION USING K-MEDIAN CLUSTERS

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