Resumen

RODRIGUEZ BENAVIDES, Domingo; LOPEZ-HERRERA, Francisco  y  MENDOZA GONZALEZ, Miguel Ángel. Review of the Convergence Hypothesis by means of Panel Cointegration: Latin America's case. Econ: teor. práct [online]. 2016, n.44, pp.51-82. ISSN 2448-7481.

The Latin American countries' PIB per capita convergence hypothesis is reviewed considering two proxies: the region's average and the usa economy. Unlike Rodríguez, Perrotini and Venegas (2012), or Perrotini and Mendoza (2014), tests of unit roots, stationarity and panel cointegration with structural breaks are used. When applied to the restricted version, the tests of panel cointegration do not support the evidence provided by the panel unit roots and stationarity tests stating convergence, although the breaks are taken into account. The convergence parameter estimation also casts out similar results in the case of the irrestricted test.

Palabras llave : convergence; panel unit roots; panel cointegration; cointegrated panels.

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