Analysis of the Cycles of the Colombian Agricultural GDP 1976-2013
The analysis of growth accounting in agricultural sector during 1976–2013 shows a strong contribution of labor factor and TFP, but a low contribution of capital. The results of the cycle estimation using different methods of time series filtering indicate the existence of three complete cycles with...
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| Format: | Online |
| Language: | spa |
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Universidad Pedagógica y Tecnológica de Colombia
2017
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| Online Access: | https://revistas.uptc.edu.co/index.php/cenes/article/view/5829 |
| _version_ | 1801705956811210752 |
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| author | Chaves Castro, Alvaro Hernando |
| author_facet | Chaves Castro, Alvaro Hernando |
| author_sort | Chaves Castro, Alvaro Hernando |
| collection | OJS |
| description | The analysis of growth accounting in agricultural sector during 1976–2013 shows a strong contribution of labor factor and TFP, but a low contribution of capital. The results of the cycle estimation using different methods of time series filtering indicate the existence of three complete cycles with duration of 16 quarters (4 years). The expansions remain for 29 quarters on average (9.6 years) and contractions 4 quarters (1 year), which implies that cycles in agricultural sector are asymmetric given the long duration of expansions compared to contractions. The co-movement analysis of the agricultural GDP cycle and each of its demand components shows that aggregate variables of agricultural activity behave procyclically. The strong covariance of GDP with apparent consumption and of coffee exports and trade balance is one of the best stylized facts that have characterized the economic fluctuations in the Colombian agricultural sector during this period. |
| format | Online |
| id | oai:oai.revistas.uptc.edu.co:article-5829 |
| institution | Revista Apuntes del Cenes |
| language | spa |
| publishDate | 2017 |
| publisher | Universidad Pedagógica y Tecnológica de Colombia |
| record_format | ojs |
| spelling | oai:oai.revistas.uptc.edu.co:article-58292022-06-17T21:34:35Z Analysis of the Cycles of the Colombian Agricultural GDP 1976-2013 Análisis de los ciclos del producto interno bruto agropecuario colombiano 1976-2013 Chaves Castro, Alvaro Hernando economic cycles total factor productivity stylized fact co-movement GDP. ciclo productividad multifactorial hecho estilizado comovimiento The analysis of growth accounting in agricultural sector during 1976–2013 shows a strong contribution of labor factor and TFP, but a low contribution of capital. The results of the cycle estimation using different methods of time series filtering indicate the existence of three complete cycles with duration of 16 quarters (4 years). The expansions remain for 29 quarters on average (9.6 years) and contractions 4 quarters (1 year), which implies that cycles in agricultural sector are asymmetric given the long duration of expansions compared to contractions. The co-movement analysis of the agricultural GDP cycle and each of its demand components shows that aggregate variables of agricultural activity behave procyclically. The strong covariance of GDP with apparent consumption and of coffee exports and trade balance is one of the best stylized facts that have characterized the economic fluctuations in the Colombian agricultural sector during this period. El análisis de contabilidad de crecimiento en el sector entre el periodo 1976-2013 muestra una fuerte contribución del factor trabajo y del crecimiento de la PTF, pero una baja contribución del stock de capital. Los resultados de la estimación del ciclo a partir de diferentes métodos de filtrado de series de tiempo indican que se registran tres ciclos completos con una duración de 16 trimestres (4 años). Las fases de expansión duran, en promedio, 29 trimestres (9,6 años), y las de contracción, 4 trimestres (1 año), lo que implica que los ciclos en el sector agrícola son asimétricos, dada la mayor duración de las expansiones con relación a las contracciones. El análisis de comovimientos del ciclo del PIB y cada uno de sus componentes de demanda en el sector muestra que las variables agregadas de la actividad agropecuaria se comportan de manera procíclica. La fuerte covarianza del PIB con el consumo aparente y de las exportaciones del café y la balanza comercial es uno de los mejores hechos estilizados que han caracterizado las fluctuaciones económicas en el sector agrícola durante el periodo de análisis. Universidad Pedagógica y Tecnológica de Colombia 2017-02-08 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer reviewed Article application/pdf application/xml https://revistas.uptc.edu.co/index.php/cenes/article/view/5829 10.19053/01203053.v36.n63.2017.5829 Apuntes del Cenes; Vol. 36 No. 63 (2017); 169-209 Apuntes del Cenes; Vol. 36 Núm. 63 (2017); 169-209 2256-5779 0120-3053 spa https://revistas.uptc.edu.co/index.php/cenes/article/view/5829/4735 https://revistas.uptc.edu.co/index.php/cenes/article/view/5829/6670 Copyright (c) 2017 Alvaro Hernando Chaves Castro http://creativecommons.org/licenses/by-nc-sa/4.0 |
| spellingShingle | economic cycles total factor productivity stylized fact co-movement GDP. ciclo productividad multifactorial hecho estilizado comovimiento Chaves Castro, Alvaro Hernando Analysis of the Cycles of the Colombian Agricultural GDP 1976-2013 |
| title | Analysis of the Cycles of the Colombian Agricultural GDP 1976-2013 |
| title_alt | Análisis de los ciclos del producto interno bruto agropecuario colombiano 1976-2013 |
| title_full | Analysis of the Cycles of the Colombian Agricultural GDP 1976-2013 |
| title_fullStr | Analysis of the Cycles of the Colombian Agricultural GDP 1976-2013 |
| title_full_unstemmed | Analysis of the Cycles of the Colombian Agricultural GDP 1976-2013 |
| title_short | Analysis of the Cycles of the Colombian Agricultural GDP 1976-2013 |
| title_sort | analysis of the cycles of the colombian agricultural gdp 1976 2013 |
| topic | economic cycles total factor productivity stylized fact co-movement GDP. ciclo productividad multifactorial hecho estilizado comovimiento |
| topic_facet | economic cycles total factor productivity stylized fact co-movement GDP. ciclo productividad multifactorial hecho estilizado comovimiento |
| url | https://revistas.uptc.edu.co/index.php/cenes/article/view/5829 |
| work_keys_str_mv | AT chavescastroalvarohernando analysisofthecyclesofthecolombianagriculturalgdp19762013 AT chavescastroalvarohernando analisisdelosciclosdelproductointernobrutoagropecuariocolombiano19762013 |
