Instability constraints and development traps: an empirical analysis of growth cycles and economic volatility in Latin America

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cepal.articleNo1
cepal.bibLevelSección o Parte de un Documento
cepal.callNumberLC/PUB.2023/4-P
cepal.docTypeRevistas
cepal.jelCodeC21
cepal.jelCodeC32
cepal.jelCodeO47
cepal.jobNumberRVI139_Spinola
cepal.physicalDescriptiongráficos., maps., tablas.
cepal.regionalOfficeSantiago
cepal.sdg1
cepal.sdg17
cepal.topicEngECONOMETRICS
cepal.topicEngECONOMIC GROWTH
cepal.topicEngMACROECONOMICS
cepal.topicSpaCRECIMIENTO ECONÓMICO
cepal.topicSpaECONOMETRÍA
cepal.topicSpaMACROECONOMÍA
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
dc.contributor.authorSpinola, Danilo
dc.coverage.spatialEngLATIN AMERICA AND THE CARIBBEAN
dc.coverage.spatialSpaAMERICA LATINA Y EL CARIBE
dc.coverage.temporalEnd2018
dc.coverage.temporalStart1950
dc.date.accessioned2023-07-06T16:23:54Z
dc.date.available2023-07-06T16:23:54Z
dc.date.issued2023-04
dc.description.abstractLatin America and the Caribbean is a region characterized by a repetitive pattern of volatility that thwarts its development process. This article conducts an empirical investigation into its volatility, comparing it with other regions. First, an asymmetrical band-pass filter is used to decompose GDP growth time series into cycles of different types for 136 countries, employing data from the Maddison Project Database for 1950–2018. Next, k-means clustering methods are used to classify volatility patterns into groups to understand their characteristics. In most countries in the region, overall volatility is explained by the relative dominance of long-run economic cycles linked to heavy dependence on commodity exports, with changes in specialization resulting from technology-driven changes in the inputs used by the countries they export to. Despite claims to the contrary in the literature, the region is not the world’s most volatile, but its countries have many particular, common characteristics.
dc.formatTexto
dc.format.extentpáginas. 7-2
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/PUB.2023/4-P
dc.identifier.urihttps://hdl.handle.net/11362/48967
dc.language.isoeng
dc.physicalDescriptionp. 7-27: grafs., maps., tabls.
dc.relation.isPartOfCEPAL Review
dc.relation.isPartOfNo139
dc.relation.isPartOfSeriesCEPAL Review
dc.relation.translationLanguagespa
dc.relation.translationRecordRestricciones vinculadas a la inestabilidad y trampas del desarrollo: un análisis empírico de los ciclos de crecimiento y la volatilidad económica en América Latina y el Caribe
dc.relation.translationUrihttps://hdl.handle.net/11362/48794
dc.rights.coarDisponible
dc.subject.unbisEngECONOMIC CONDITIONS
dc.subject.unbisEngECONOMIC GROWTH
dc.subject.unbisEngECONOMIC STRUCTURE
dc.subject.unbisEngMACROECONOMICS
dc.subject.unbisEngGROSS DOMESTIC PRODUCT
dc.subject.unbisEngBUSINESS CYCLES
dc.subject.unbisEngECONOMIC ANALYSIS
dc.subject.unbisSpaCONDICIONES ECONOMICAS
dc.subject.unbisSpaCRECIMIENTO ECONOMICO
dc.subject.unbisSpaESTRUCTURA ECONOMICA
dc.subject.unbisSpaMACROECONOMIA
dc.subject.unbisSpaPRODUCTO INTERNO BRUTO
dc.subject.unbisSpaCICLOS ECONOMICOS
dc.subject.unbisSpaANALISIS ECONOMICO
dc.titleInstability constraints and development traps: an empirical analysis of growth cycles and economic volatility in Latin America
dc.type.coarrevista
dc.usergrouprevistacepal
dspace.entity.typePublication
relation.isAuthorOfPublicationc9c4d85f-ba5d-40b9-a25a-1c15467ab407
relation.isAuthorOfPublication.latestForDiscoveryc9c4d85f-ba5d-40b9-a25a-1c15467ab407
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