Capital Accumulation and State Growth in Mexico: A Panel Data Analysis
This paper studies the link between economic growth and state industrial capital stock accumulation using panel data techniques in the time period 1960-2012. The analysis is done in two moments: the age of national industrialization (1960-1982) and the structural reform era (1983-2012). The results...
| Authors: | , , |
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| Format: | article |
| Status: | Published version |
| Publication Date: | 2021 |
| Country: | México |
| Institution: | UNIVERSIDAD NACIONAL AUTÓNOMA DE MÉXICO |
| Repository: | Problemas del Desarrollo. Revista Latinoamericana de Economía |
| Language: | Spanish English |
| OAI Identifier: | oai:ojs.pkp.sfu.ca:article/61286 |
| Online Access: | https://www.probdes.iiec.unam.mx/index.php/pde/article/view/61286 |
| Access Level: | Open access |
| Keyword: | Industrialization economic growth capital accumulation investment panel data industrialización crecimiento económico acumulación de capital inversiones datos de panel |
| Summary: | This paper studies the link between economic growth and state industrial capital stock accumulation using panel data techniques in the time period 1960-2012. The analysis is done in two moments: the age of national industrialization (1960-1982) and the structural reform era (1983-2012). The results point to a long-term relationship in both periods, but with a sign opposite of the expected sign in the latter, suggesting that the deceleration of industrial capital can explain the slowdown over the past three decades. This result is confirmed with the decline of manufacturing, as well as other economic indicators. The causality tests demonstrate two-way causality between the two variables, evincing a virtuous cycle between growth and accumulation. |
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