This paper develops a structural model of infrastructure and output growth that specifies the ways in which country characteristics and policies enter the infrastructure-GDP interactions and lead to heterogeneity of steady states and convergence rates across countries and over time. We show that...

In this paper, 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 non-linearity in the per...

The empirical growth literature has usually ignored spatial interdependence among countries. This paper uses spatial econometrics to estimate a growth model in which a country's economic growth depends on the growth rate of its neighbors. The results show that spatial relationships are relevant...

El presente artículo estima una función de demanda de las exportaciones no tradicionales en Colombia utilizando análisis multivariado de cointegración. En particular, el artículo tiene como objetivos examinar la existencia de una relación de largo plazo entre las exportaciones no...

No abstract.

In this article, we modelled the Colombian long run economic growth (1925-2003) using a two-regime first order Markov switching model. We found evidence of nonlinearity in the annual rate of economic growth. The results show that changes between regimes are sudden and sporadic. The Colombian...

A long run income and price elasticities of demand is estimated for Colombian nontraditional exports through a multivariate cointegration analysis. Based on the combination of cointegration and exogeneity concepts and the inclusion of the complete dynamic system, the paper shows the existence of...