Regional Output Growth and the Impact of Macroeconomic Shocks in Mexico

Shepherd, D., Muñoz Torres, R.I. and Mendoza, M.A. 2014. Regional Output Growth and the Impact of Macroeconomic Shocks in Mexico. International Review of Applied Economics . 28 (3), pp. 293-210. doi:10.1080/02692171.2013.872083

TitleRegional Output Growth and the Impact of Macroeconomic Shocks in Mexico
AuthorsShepherd, D., Muñoz Torres, R.I. and Mendoza, M.A.
Abstract

This paper presents an empirical analysis of the relationship between national and regional output growth in Mexico, and the impact of domestic and international shocks on national, regional and state output movements. Our results suggest that there are similarities, but also significant differences, in real output dynamics across the regions and states of Mexico and that it would be wrong to regard the Mexican economy as a homogeneous entity. The results show that real output growth in Mexico and the United States are linked, but there is no common output trend for the two countries. At the regional level, it appears that North and Central Mexico share similar features, but the path of output growth is more distinctive in South Mexico. Overall, our results suggest that assessments of macroeconomic performance, and related discussions of policy, should pay greater attention to the potential diversity in regional performance.

KeywordsRegional Output, Macroeconomic Shocks, Trends and Cycles, Co-Movement, Dynamics
JournalInternational Review of Applied Economics
Journal citation28 (3), pp. 293-210
ISSN0269-2171
Year2014
PublisherTaylor & Francis
Digital Object Identifier (DOI)doi:10.1080/02692171.2013.872083
Publication dates
Published online27 Jan 2014
Published27 Jan 2014

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