Effects of the Great Recession on state output in Mexico

Autores/as

  • Pablo Mejía-Reyes Centro de Investigación en Ciencias Económicas, Facultad de Economía, Universidad Autónoma del Estado de México
  • Miguel Ángel Díaz-Carreño Centro de Investigación en Ciencias Económicas, Facultad de Economía, Universidad Autónoma del Estado de México

DOI:

https://doi.org/10.18381/eq.v12i2.4859

Palabras clave:

Regional Business Cycles, Great Recession, Spatial Regression

Resumen

This paper investigates the effects of a battery of variables on total and sector output drops in the Mexican states during the Great Recession by estimating spatial and cross-section regression models. Our main results can be summarized as follows. First, there is evidence of spatial autocorrelation only in the case of total production and it seems to be negative, which does not support the hypothesis of interstate transmission of the recession. Second, total and sector production falls can be explained by the specialization in the production of tradable (mainly durable) goods. Third, exposure to external shocks plays an important role in the cases of industrial and services production, but not in total output. Fourth, there seems to be that federal fiscal policy has actually been pro-cyclical while state fiscal policies have contributed to mitigate the recession. 

Citas

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Publicado

2016-01-19

Cómo citar

Mejía-Reyes P., & Díaz-Carreño M. Ángel. (2016). Effects of the Great Recession on state output in Mexico. EconoQuantum, 12(2), 25-45. https://doi.org/10.18381/eq.v12i2.4859