Abstract

VAZQUEZ MUNOZ, Juan Alberto  and  ZAVALETA GONZALEZ, Josué. Exports versus capital accumulation in Argentina, Brazil, Chile, and Mexico. Prob. Des [online]. 2022, vol.53, n.209, pp.53-79.  Epub Sep 19, 2022. ISSN 0301-7036.  https://doi.org/10.22201/iiec.20078951e.2022.209.69819.

This article analyzes the relative importance of exports and capital accumulation for growth rates in Argentina, Chile, and Mexico for the period 1961-2019, and Brazil for the period 1971-2019. This article finds evidence that capital accumulation has a significant positive effect on the growth rate, with exports also having a significant, although lesser, impact. Likewise, the effect of exports on reducing the external constraint to growth is insignificant compared to that of capital accumulation. The article concludes by suggesting that growth strategies should privilege capital accumulation, rather than exports.

Keywords : capital accumulation; exports; economic growth; trade balance; panel data.

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