Economic dynamic of remittances sent from Spain and the United States to Colombia between 2005-2013: an analysis of cointegration
The purpose of this paper is to analyze the behavior of remittances from Spain and the United States to Colombia in the last nine years, searching specifically what its long-term determinants are. To achieve it, cointegration analysis validated with an error correction method is implemented. It is f...
| Main Authors: | , |
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| Format: | Online |
| Language: | spa eng |
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Universidad Pedagógica y Tecnológica de Colombia
2014
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| Online Access: | https://revistas.uptc.edu.co/index.php/cenes/article/view/3100 |
| _version_ | 1801705949412458496 |
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| author | Gómez, Andrés Mauricio Ramirez Gutierrez, Zoraida |
| author_facet | Gómez, Andrés Mauricio Ramirez Gutierrez, Zoraida |
| author_sort | Gómez, Andrés Mauricio |
| collection | OJS |
| description | The purpose of this paper is to analyze the behavior of remittances from Spain and the United States to Colombia in the last nine years, searching specifically what its long-term determinants are. To achieve it, cointegration analysis validated with an error correction method is implemented. It is found that the series under analysis for both Spain and the United States are cointegrated, i.e. there are stable long-term relationships between remittances, GDP, unemployment and the exchange rate, although the rate of convergence between the short and long term within this ratio is high for the U.S. and slower for Spain. |
| format | Online |
| id | oai:oai.revistas.uptc.edu.co:article-3100 |
| institution | Revista Apuntes del Cenes |
| language | spa eng |
| publishDate | 2014 |
| publisher | Universidad Pedagógica y Tecnológica de Colombia |
| record_format | ojs |
| spelling | oai:oai.revistas.uptc.edu.co:article-31002022-06-17T21:33:55Z Economic dynamic of remittances sent from Spain and the United States to Colombia between 2005-2013: an analysis of cointegration Dinámica económica de las remesas enviadas desde España y Estados Unidos a Colombia entre 2005-2013: un análisis de cointegración Gómez, Andrés Mauricio Ramirez Gutierrez, Zoraida Remittances cointegration error correction model long-run stability. Remesas cointegración mecanismo de corrección de errores. The purpose of this paper is to analyze the behavior of remittances from Spain and the United States to Colombia in the last nine years, searching specifically what its long-term determinants are. To achieve it, cointegration analysis validated with an error correction method is implemented. It is found that the series under analysis for both Spain and the United States are cointegrated, i.e. there are stable long-term relationships between remittances, GDP, unemployment and the exchange rate, although the rate of convergence between the short and long term within this ratio is high for the U.S. and slower for Spain. El propósito del artículo es analizar el comportamiento de las remesas enviadas desde España y Estados Unidos hacia Colombia en los últimos nueve años, y buscar específicamente cuáles son sus determinantes a largo plazo. Para lograrlo se implementa un análisis de cointegración convalidado con un método de corrección de errores. Se encuentra que las series bajo análisis tanto para España como para Estados Unidos están cointegradas, es decir hay relaciones estables de largo plazo entre las remesas, el PIB, el desempleo y el tipo de cambio, aunque la velocidad de convergencia entre el corto y largo plazo de dicha relación es alta para Estados Unidos y más lenta para España. Universidad Pedagógica y Tecnológica de Colombia 2014-11-26 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer reviewed Article application/pdf text/html application/pdf https://revistas.uptc.edu.co/index.php/cenes/article/view/3100 10.19053/22565779.3100 Apuntes del Cenes; Volumen 33 N° 58: julio - diciembre de 2014; 45-82 Apuntes del Cenes; Volumen 33 N° 58: julio - diciembre de 2014; 45-82 2256-5779 0120-3053 spa eng https://revistas.uptc.edu.co/index.php/cenes/article/view/3100/2807 https://revistas.uptc.edu.co/index.php/cenes/article/view/3100/5110 https://revistas.uptc.edu.co/index.php/cenes/article/view/3100/5145 Copyright (c) 2014 Andrés Mauricio Gómez, Zoraida Ramirez Gutierrez http://creativecommons.org/licenses/by-nc-sa/4.0 |
| spellingShingle | Remittances cointegration error correction model long-run stability. Remesas cointegración mecanismo de corrección de errores. Gómez, Andrés Mauricio Ramirez Gutierrez, Zoraida Economic dynamic of remittances sent from Spain and the United States to Colombia between 2005-2013: an analysis of cointegration |
| title | Economic dynamic of remittances sent from Spain and the United States to Colombia between 2005-2013: an analysis of cointegration |
| title_alt | Dinámica económica de las remesas enviadas desde España y Estados Unidos a Colombia entre 2005-2013: un análisis de cointegración |
| title_full | Economic dynamic of remittances sent from Spain and the United States to Colombia between 2005-2013: an analysis of cointegration |
| title_fullStr | Economic dynamic of remittances sent from Spain and the United States to Colombia between 2005-2013: an analysis of cointegration |
| title_full_unstemmed | Economic dynamic of remittances sent from Spain and the United States to Colombia between 2005-2013: an analysis of cointegration |
| title_short | Economic dynamic of remittances sent from Spain and the United States to Colombia between 2005-2013: an analysis of cointegration |
| title_sort | economic dynamic of remittances sent from spain and the united states to colombia between 2005 2013 an analysis of cointegration |
| topic | Remittances cointegration error correction model long-run stability. Remesas cointegración mecanismo de corrección de errores. |
| topic_facet | Remittances cointegration error correction model long-run stability. Remesas cointegración mecanismo de corrección de errores. |
| url | https://revistas.uptc.edu.co/index.php/cenes/article/view/3100 |
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