Colombian economic growth under Markov switching regimes with endogenous transition probabilities

Misas A., Martha; Ramírez-Giraldo, María Teresa

Colombian economic growth under Markov switching regimes with endogenous transition probabilities

Download

Borradores de Economía; No. 425

Date published

2006-12-10

Date

2006-12-10

Authors

Misas A., Martha
Ramírez-Giraldo, María Teresa

Document language

spa

Metrics

downloads: 0

abstract_views: 0

Las opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.

The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors.

Abstract

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