Abstract

VAZQUEZ MUNOZ, Juan Alberto  and  CAMACHO ACEVO, José Fernando. Technological Progress, Capital Acumulation and Economic Growth in Latin America. Inv. Econ [online]. 2019, vol.78, n.307, pp.3-32. ISSN 0185-1667.  https://doi.org/10.22201/fe.01851667p.2019.307.68445.

This paper displays an analysis of the economic growth rates of Argentina, Brazil, Chile and Mexico during the period 1961-2017. Explanations related to total factor productivity and to capital accumulation are here contrasted in a context of growth external constraint. The following conclusiones are reached on empirical grounds: Technological progress is an endogenous variable reacting to variations in aggregate demand necessary to fulfill the dynamic equilibrium of the trade balance; growth rates in those countries are closely linked to the growth rate of their economic capacity; the process of growth acceleration in these economies corresponded to high rates of capital accumulation.

Keywords : Latin America; total factor productivity; capital accumulation; growth external constraint; F43; O40; O54.