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Determinantes del crecimiento en America Latina: Analisis empirico de los sistemas bancarios
[Economic growth determinants in Latin American region: An empirical analysis based on bank systems role]

Author

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  • Carton, Christine
  • Ronquillo, Cely

Abstract

This article examines a theoretical framework for an explanation for the processes of growth experienced by the economies of Latin America. The economic literature is devoted primarily to analyze this topic based on the use of the macroeconomic production function as the main analytical concept. It is proposed to validate empirically the interaction between financial development and human capital as determinant of the processes of growth for the Latin American region. Thus, the major contribution of this study is the application of a translog production function which allows the analysis of the interaction that can exist between explanatory variables. Estimates are made with a panel data from 1980 to 2004, based on a sample of 16 countries representing the Latin American region. We found significant results suggest that financial development is as important as human capital for economic growth.

Suggested Citation

  • Carton, Christine & Ronquillo, Cely, 2008. "Determinantes del crecimiento en America Latina: Analisis empirico de los sistemas bancarios [Economic growth determinants in Latin American region: An empirical analysis based on bank systems role," MPRA Paper 10832, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:10832
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    References listed on IDEAS

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    More about this item

    Keywords

    América Latina; Crecimiento; Desarrollo financiero; Capital humano; Datos en panel;
    All these keywords.

    JEL classification:

    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • N16 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Latin America; Caribbean
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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