<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0185-1667</journal-id>
<journal-title><![CDATA[Investigación económica]]></journal-title>
<abbrev-journal-title><![CDATA[Inv. Econ]]></abbrev-journal-title>
<issn>0185-1667</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional Autónoma de México, Facultad de Economía]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0185-16672017000200053</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Crecimiento, competitividad y restricción externa en América Latina]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Landa Díaz]]></surname>
<given-names><![CDATA[Heri Oscar]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Arriaga Navarrete]]></surname>
<given-names><![CDATA[Rosalinda]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Nacional Autónoma de México Facultad de Economía División de Estudios de Posgrado]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad Autónoma Metropolitana Unidad Iztapalapa Departamento de Economía]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2017</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2017</year>
</pub-date>
<volume>76</volume>
<numero>300</numero>
<fpage>53</fpage>
<lpage>80</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0185-16672017000200053&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0185-16672017000200053&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0185-16672017000200053&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen: En este artículo se plantea revisar empíricamente la condición Marshall-Lerner y la hipótesis de restricción externa de Thirlwall para el caso de América Latina. El análisis mantiene un doble objetivo: por un lado, analizar el papel del tipo de cambio en la ba- lanza comercial y, por otro, el efecto de la balanza en cuenta corriente sobre la dinámica económica. La prueba de hipótesis se realiza para Argentina, Brasil, Chile, Colombia y México, mediante un panel dinámico (pooled mean group), durante el periodo 1994-2015. Los principales resultados sugieren que a largo plazo: 1) una apreciación del tipo de cambio real mejora la balanza comercial y 2) la trayectoria de crecimiento de una economía está determinada por la demanda, siendo el sector exportador el factor dinámico.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract: The paper is aimed at empirically assessing both the Marshall-Lerner condition and Thirlwall&#8217;s hypothesis of external constraint on economic growth for the case of Latin American. Our goal is twofold: on the one hand, the role of the exchange rate in the trade balance equilibrium is dealt with and, on the other hand, we look at the effect of the current account balance on economic dynamics. A dynamic panel (Pooled Mean Group) is applied for hypothesis testing on a sample of data of countries such as Argentina, Brazil, Chile, Colombia and Mexico for the period 1994-2015. Our main results suggest that: 1) an improvement in the real exchange rate in the long run tend to improve the trade balance, and 2) the long-term growth path of an economy is demand-determined, with the export sector as the dynamic drive.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[balanza de pagos]]></kwd>
<kwd lng="es"><![CDATA[tipo de cambio real]]></kwd>
<kwd lng="es"><![CDATA[crecimiento económico]]></kwd>
<kwd lng="es"><![CDATA[panel dinámico]]></kwd>
<kwd lng="en"><![CDATA[Balance of payments]]></kwd>
<kwd lng="en"><![CDATA[real exchange rate]]></kwd>
<kwd lng="en"><![CDATA[economic growth]]></kwd>
<kwd lng="en"><![CDATA[dynamic model]]></kwd>
</kwd-group>
</article-meta>
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