Abstract:This study documents the adjustment in the business cycles of Mexico’s states that resulted from trade liberalization. It also analyzes the relevance of the various elements that previous studies have proposed as the determining factors of the synchronization of these cycles. Our results reveal that these determinants are relevant throughout the sample period (1980-2019), but their relative importance changes over time as does their synchronization. This may be explained as follows: trade liberalization caused… Show more
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