External Shocks and Economic Growth: Evidence for Pacific Alliance Countries (2000-2019)

Authors

  • Héctor Javier Bendezú-Jiménez Universidad Nacional Mayor de San Marcos
  • Gabriela Clarita Perez Lopez Universidad Nacional Mayor de San Marcos
  • Aldair German Velásquez Trujillo Universidad Nacional Mayor de San Marcos

DOI:

https://doi.org/10.31381/gbaj.v9i1.6742

Keywords:

Economic integration, Pacific Alliance, External Shocks, Economic growth, VAR model

Abstract

Understanding the effects of external shocks on Gross Domestic Product (GDP) in the member countries of the Pacific Alliance (PA) is essential to continue the process of regional economic integration. The research develops a Vector AutoRegressive (VAR) model that allows analyzing the interrelationship between multiple time series of variables based on quarterly data. The results show that a shock from the Dow Jones stock index substantially explains changes in GDP, revealing the influence of the US economy. Likewise, variables such as country risk, food prices, metals, and fuels also reveal a significant effect. Additionally, we examine differences in the results obtained based on the characteristics of each country.

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Published

2025-03-27

How to Cite

Bendezú-Jiménez, H. J. ., Perez Lopez , G. C. ., & Velásquez Trujillo, A. G. . (2025). External Shocks and Economic Growth: Evidence for Pacific Alliance Countries (2000-2019). Global Business Administration Journal, 9(1), e6742. https://doi.org/10.31381/gbaj.v9i1.6742

Issue

Vol. 9 No. 1 (2025): GLOBAL BUSINESS ADMINISTRATION JOURNAL

Section

Artículos Originales

License

Copyright (c) 2025 Global Business Administration Journal

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.