América Latina, Norte América, Unión Europea y Sudeste Asiático. Un estudio de convergencia.

Abstract

This study examines the process of economic convergence of the underdeveloped countries of Latin America and their main trading partners: North America, European Union and Southeast Asia, between 1970 and 2014, using the definitions of sigma convergence and beta convergence of the economic growth model Neoclassical, as well as the graphical analysis and the use of the econometric method for the estimation of beta convergence models. The empirical results show a high deviation in per capita income between the regions studied in the 1970-89 period (before the Washington Consensus) whereas from the beginning of the 1990s (after the Washington Consensus) The Latin American economy to the per capita income levels of its current trading partners. Since the 1990s, the speed of beta convergence increases while the differences in per capita income levels between the regions studied are decreasing, concluding that all economies are heading to the same steady state in the long term.