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Publication date: 30 May 2019

Martha del Pilar Rodríguez, Klender Cortez and Alma Berenice Méndez

This chapter aims to analyze whether member countries of the Pacific Alliance agreement showed economic and financial convergence during the 2010–2016 period. The sample consists…

Abstract

This chapter aims to analyze whether member countries of the Pacific Alliance agreement showed economic and financial convergence during the 2010–2016 period. The sample consists of four Latin American countries that are members of the Alianza del Pacífico (Pacific Alliance): Mexico, Chile, Colombia, and Peru. We use an economic convergence index (ECI) to classify the degree of the countries’ convergence regarding a given monetary area, considering the size of their economy, and compute three criteria: (1) nominal variables (used to define the Maastricht criteria), which are inflation, long-term interest rates, public debt, fiscal deficit as percentages of gross domestic product (GDP), and exchange rate volatility; (2) real and cyclical variables such as real GDP growth, gap between real GDP and potential GDP, unemployment, current account balance as a percentage of GDP, and short-term interest rates; and (3) a conditional combination that unequally weights nominal and real variables. We also use correlation analysis to compare coefficients. The results can be analyzed in the medium term in terms of descriptive statistics of their real and nominal variables, convergence indexes, and correlation analysis. The results show that the countries of the Pacific Alliance under study are converging in terms of nominal variables such as interest rate, exchange rate, fiscal deficits, and government debt. Also it can be observed that convergence occurs in real and weighted variables, although to a lesser magnitude. In relation to real variables related to GDP growth and foreign trade, these variables adjust less quickly than nominal ones.

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Book part
Publication date: 23 August 2021

Martha Ríos Manríquez

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Empowerment, Transparency, Technological Readiness and their Influence on Financial Performance, from a Latin American Perspective
Type: Book
ISBN: 978-1-80117-382-7

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Book part
Publication date: 24 November 2017

Guido Stein

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And Now What?
Type: Book
ISBN: 978-1-78743-525-4

Book part
Publication date: 5 February 2018

Luis Enrique Aguilar

This discussion essay describes three methodological models of comparative analysis and tests a dialogue between Bartolini, Bray, and Bonilla Molina. Bartolini explores a model…

Abstract

This discussion essay describes three methodological models of comparative analysis and tests a dialogue between Bartolini, Bray, and Bonilla Molina. Bartolini explores a model that combines dimensions of spatial and temporal variation noting the emphasis dedicated to synchronous cross-sectional investigation, as well as the need to think of time as a dimension of variation, as history. Bartolini summarizes the sociological and historical literature creating a data matrix to which he adds a dimension of time and outlines the case study and development of the case, the development trend, the great development theory, and a synchronous comparison of development. Bray adds items to a greater degree of specificity ranging from the spatial dimension with specific geographical units organized by varying degrees, types, and levels. The comparative analysis of the multilevel schematic occurs by the combination of: geographic levels, location from macro to micro; nonspatial population levels of large ethnic diversity, religion and gender as well as aspects of education and society including teachers, curriculum, finance, management, education, and work. Molina Bonilla presents a dynamic multidimensional model that combines all the macro and micro dimensions of education: school as a political project and as a continent and a country on the planet; as a teaching–learning process from citizenship and democracy; as a process involving students, teachers, and parents; and as a product where the spatial and temporal dimensions from the geopolitical merge into a dynamic hub that crosses stories, capital, and labor. The latter, created to assess quality, is a synthesis of the theoretical and methodological as it provides a multitude of benefits for successful comparative analysis in today’s global and international context of education.

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Annual Review of Comparative and International Education 2017
Type: Book
ISBN: 978-1-78743-765-4

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