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Colombian Economic Growth under Markov Switching Regimes with Endogenous Transition Probabilities

Martha
Misas
María Teresa
Ramírez-Giraldo
Viernes, 1 Diciembre 2006

We modelled the Colombian long run per capita economic growth (1925-2005) using a Markov switching regime model with both fixed (FTP) and time-varying transition probabilities (TVTP) to explain regime changes in the economic growth. We found evidence of n