Depressions in the Colombian economic growth during the XX century: A Markov Switching Regime Model

Borradores de Economia
Number: 
340
Published: 
Classification JEL: 
O40, C22, E32, N16
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
Download document

The most recent

Reading Between the Lines: A Quantitative Analysis of Colombia’s Central Bank Minutes
Pedro Pablo Calderon-Camacho, Celina Gaitán-Maldonado, Nicolle Valentina Herrera-Pinto, Mario A. Ramos-Veloza
Inflation Drivers in Colombia: A Hemisphere Neural Network Approach
Franky Juliano Galeano-Ramírez, Nicolás Martínez-Cortés, Hernán Dario Perdomo-Sánchez, Marlon Salazar
Tax reforms and the labor market in an emerging market economy
Catalina Granda-Carvajal, Jesús Enrique Morales-Piñero

In this paper, we modeled the Colombian long run economic growth (1925-2003) using a two- regime first order Markov switching model. We found evidence of non-linearity in the annual rate of economic growth. The results show that changes between regimes ar