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- Title
Convergência de abertura econômica entre países: uma aplicação das cadeias de Markov.
- Authors
Francisco de Araujo Jr, Ari; Silva Pires, Tiago; Gianturco Gulisano, Adriano
- Abstract
Is there economic opening convergence in the world? This paper seeks to answer this question using the Markov Chain methodology for four different indicators: the World Bank trade, the World Bank weighted mean tariff rate, the World Economic Forum prevalence of non-tariff barriers and the Fraser Institute's economic freedom. Three out of the four convergence tests performed indicated a convergence tendency for central classes around the mean, while the lower and upper extreme classes lost importance. The weighted mean tariff rate indicator showed a tendency of strong convergence for the two lower classes, indicating a process of intense tariff reduction. Therefore, if the dynamics observed in the analyzed periods uphold, one should expect greater homogeneity among countries in terms of economic freedom at higher levels.
- Publication
Perspectiva Econômica, 2021, Vol 17, Issue 2, p76
- ISSN
0100-039X
- Publication type
Article
- DOI
10.4013/pe.2021.172.02