Abstract
The long term behavior of the real per capita GDP for Mexico (1921-1995) is analyzed in views of determining if it has a stochastic tendency —unitary root and the current shocks have a permanent character— or a deterministic one —or else, it does not have unitary roots and shocks are transient. Especial emphasis is made on the analysis the effects of deceleration on production as of the 1980’s decade; to do so, we resorted to a number of time series techniques. Although results are not conclusive, on the basis of the properties of the employed tests, we think that the tendency is determinist, therefore shocks are transient, however there is evidence of a high persistence that makes the reversion of the long run trend vey slow. This way, the results in this document challenge the hypothesis of the ineffectiveness of the economic policy.
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