Colombian Economic Growth under Markov Switching Regimes with Endogenous Transition Probabilities

Borradores de Economia
Número: 
425
Publicado: 
Clasificación JEL: 
O40, C22, E32, N16
Palabras clave: 
Markov endogenous switching regime model, Time-varying transition probabilities, Economic growth, Colombia.
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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