Browsing by Author "PULIDO PEDRAZA, Johanna Alejandra"
Now showing 1 - 2 of 2
Results Per Page
Sort Options
Item THE ROLE OF MACROECONOMIC INSTABILITY ON ECONOMIC GROWTH RATE: THE CASE OF COLOMBIA, 1950-2009(2012-07-25) PULIDO PEDRAZA, Johanna Alejandra; İSMİHAN, MustafaThe main objective of this thesis is to investigate the role of macroeconomic instability on economic growth in Colombia, by utilizing a production function approach, over the 1950-2009 period. Additionally, the role of openness and capital formation (both physical and human) on economic growth are investigated. In doing so, this thesis has used modern time series techniques, such as unit roots, cointegration analysis and error correction models. Both the descriptive and econometric evidence show that the recurrent macroeconomic instability episodes seriously and negatively affected the growth potential of the Colombian economy during the 1950-2009 period. Empirical results also suggest that the growth in output is positively affected from physical and human capital formation but negatively affected from openness over the long term. Additionally, it is also found that in the long term, the output can adapt itself faster (in approximately three years) to the changes in macroeconomic instability and capital stock.Item THE ROLE OF MACROECONOMIC INSTABILITY ON ECONOMIC GROWTH RATE: THE CASE OF COLOMBIA, 1950-2009(2012-05-28) PULIDO PEDRAZA, Johanna Alejandra; İSMİHAN, MustafaThe main objective of this thesis is to investigate the role of macroeconomic instability on economic growth in Colombia, by utilizing a production function approach, over the 1950-2009 period. Additionally, the role of openness and capital formation (both physical and human) on economic growth are investigated. In doing so, this thesis has used modern time series techniques, such as unit roots, cointegration analysis and error correction models. Both the descriptive and econometric evidence show that the recurrent macroeconomic instability episodes seriously and negatively affected the growth potential of the Colombian economy during the 1950-2009 period. Empirical results also suggest that the growth in output is positively affected from physical and human capital formation but negatively affected from openness over the long term. Additionally, it is also found that in the long term, the output can adapt itself faster (in approximately three years) to the changes in macroeconomic instability and capital stock.