Are the Mexican States and the United States Business Cycles Synchronized?. Evidence from the Manufacturing Production

This paper analyses the degree of synchronization between the Mexican states and the US business cycles by using a growth cycle approach for the period 1997-2007. The business cycle indicators are obtained from seasonally-adjusted monthly manufacturing production. Our results confirm that the Mexica...

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Detalles Bibliográficos
Autores principales: Pablo Mejía-Reyes, Jeanett Campos-Chávez
Formato: Artículo científico
Publicado: Centro de Investigación y Docencia Económicas, A.C. 2011
Materias:
Economía y Finanzas
Growth cycles
international synchronization
sub-national business cycles
Mexican states
Acceso en línea:http://www.redalyc.org/articulo.oa?id=32319280003
http://biblioteca.clacso.edu.ar/gsdl/cgi-bin/library.cgi?a=d&c=mx/mx-010&d=32319280003oai
Aporte de:
Red de Bibliotecas Virtuales de Ciencias Sociales (CLACSO) de Consejo Latinoamericano de Ciencias Sociales
id I16-R122-32319280003oai
record_format dspace
institution Consejo Latinoamericano de Ciencias Sociales
institution_str I-16
repository_str R-122
collection Red de Bibliotecas Virtuales de Ciencias Sociales (CLACSO)
topic Economía y Finanzas
Growth cycles
international synchronization
sub-national business cycles
Mexican states
spellingShingle Economía y Finanzas
Growth cycles
international synchronization
sub-national business cycles
Mexican states
Pablo Mejía-Reyes
Jeanett Campos-Chávez
Are the Mexican States and the United States Business Cycles Synchronized?. Evidence from the Manufacturing Production
topic_facet Economía y Finanzas
Growth cycles
international synchronization
sub-national business cycles
Mexican states
description This paper analyses the degree of synchronization between the Mexican states and the US business cycles by using a growth cycle approach for the period 1997-2007. The business cycle indicators are obtained from seasonally-adjusted monthly manufacturing production. Our results confirm that the Mexican aggregate cycle is highly synchronized with the US business cycle. However, although specific Mexican state cycles are pro-cyclical with respect to the US business cycle, their synchronization is very heterogeneous. In particular, it is strong and robust only for the states of Baja California, Jalisco, Nuevo León and the Federal District, and at least moderate for the state of Mexico and Querétaro. The results are robust with respect to three different detrending methods. Synchronization may be explained by the high volumes of international trade carried out by foreign firms in the case of the central and traditionally industrialized states, and by the maquila production in the Northern bordering states. This synchronization may be explained by the vertical integration of the productive processes resulting from the internationalization of production of multinational firms.
format Artículo científico
Artículo científico
author Pablo Mejía-Reyes
Jeanett Campos-Chávez
author_facet Pablo Mejía-Reyes
Jeanett Campos-Chávez
author_sort Pablo Mejía-Reyes
title Are the Mexican States and the United States Business Cycles Synchronized?. Evidence from the Manufacturing Production
title_short Are the Mexican States and the United States Business Cycles Synchronized?. Evidence from the Manufacturing Production
title_full Are the Mexican States and the United States Business Cycles Synchronized?. Evidence from the Manufacturing Production
title_fullStr Are the Mexican States and the United States Business Cycles Synchronized?. Evidence from the Manufacturing Production
title_full_unstemmed Are the Mexican States and the United States Business Cycles Synchronized?. Evidence from the Manufacturing Production
title_sort are the mexican states and the united states business cycles synchronized?. evidence from the manufacturing production
publisher Centro de Investigación y Docencia Económicas, A.C.
publishDate 2011
url http://www.redalyc.org/articulo.oa?id=32319280003
http://biblioteca.clacso.edu.ar/gsdl/cgi-bin/library.cgi?a=d&c=mx/mx-010&d=32319280003oai
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bdutipo_str Repositorios
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