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Determinantes del crecimiento económico en México 1929-2003: Una perspectiva postkeynesiana

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  • Guerrero, Carlos

    (Tecnológico de Monterrey, Campus Ciudad de México)

Abstract

Using a post-Keynesian approach, the paper analyzes the economic growth in the Mexican economy during the period 1929-2003. Our first model emphasizes the role of the ratio of exports/imports income elasticities and the performance of the rest of the world economy, and the second one the relevance of price elasticities, terms of trade, and capital flows. The paper focuses on econometric estimates of involved parameters. During the analyzed period, and selected subperiods, actual growth rates were repeatedly lower than those consistent with a balanced current account. Furthermore, the Mexican economy validates the Marshall-Lerner condition. Finally, starting in 1996 we found a reduced, but positive, impact of capital inflows on the Mexican economy

Suggested Citation

  • Guerrero, Carlos, 2004. "Determinantes del crecimiento económico en México 1929-2003: Una perspectiva postkeynesiana," EGAP Working Papers 2004-06, Tecnológico de Monterrey, Campus Ciudad de México.
    • Handle: RePEc:ega:docume:200406
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    File URL: http://alejandria.ccm.itesm.mx/egap/documentos/EGAP-2004-06.pdf
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    More about this item

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General

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