Analysis of the Intersectoral Synchronization of the Mexican Economy

Abstract

In this paper, we investigate the sectoral interrelation of the Mexican economy addressed by a nonparametric mechanism known as phase synchronization that emphasizes in the business cycles comovements between oscillating systems (productive activities), which tend to synchronize their fluctuations. The sectors considered for this application were selected through their input‒output linkages captured through a social accounting matrix. The results suggest that production sectors with higher intersectoral linkages demonstrate synchronization. Among all productive sectors, the manufacturing industry is the sector that presents greater synchronization with the rest of the productive activities.

This is an Accepted Manuscript of an article published by Elsevier in Structural Change and Economic Dynamics on 30/12/2022, available online: https://doi.org/10.1016/j.strueco.2022.12.013