Economic structure and business cycle synchronization: Evidence from Mexico's states

被引:0
作者
Gomez-Zaldivar, Manuel [1 ]
Gomez-Zaldivar, Fernando [2 ]
机构
[1] Univ Guanajuato, Dept Econ & Finanzas, Guanajuato, Mexico
[2] Tecnol Monterrey, Mexico City, Mexico
关键词
Synchronization and Economic Integration; Economic complexity index; TRADE INTEGRATION; COMPLEXITY; SPECIALIZATION; COUNTRIES; ROBUST; SHOCKS; TIME;
D O I
10.38191/iirr-jorr.24.007
中图分类号
F [经济];
学科分类号
02 ;
摘要
According to recent studies, the growing economic integration between Mexico and the United States, that resulted from the North American Free Trade Agreement (NAFTA), heterogeneously transformed the economic structure of Mexico's states. This study provides evidence that this, in turn, altered the degree and nature of economic synchronization among them. Furthermore, it shows evidence of an increasingly significant positive relationship from 1994 on between economic synchronization and the level of sophistication of states' economic structures [measured by the Economic Complexity Index (ECI)]. As economic integration increases, it becomes easier for shocks to be transmitted between state economies with similar economic structures, either because their characteristics make them more sensitive to the same kinds of shocks or simply because they are so closely linked. Our results help provide a greater understanding of the states' economic evolution during the period analyzed.
引用
收藏
页码:163 / 177
页数:16
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