<?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>0186-1042</journal-id>
<journal-title><![CDATA[Contaduría y administración]]></journal-title>
<abbrev-journal-title><![CDATA[Contad. Adm]]></abbrev-journal-title>
<issn>0186-1042</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional Autónoma de México, Facultad de Contaduría y Administración]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0186-10422017000501427</article-id>
<article-id pub-id-type="doi">10.1016/j.cya.2017.09.005</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[Impact of the stock market capitalization and the banking spread in growth and development in Latin American: A panel data estimation with System GMM]]></article-title>
<article-title xml:lang="es"><![CDATA[Impacto de la capitalización bursátil y del spread bancário sobre el crecimiento y el desarrollo en América Latina: una estimación de datos de panel con MGM-sistema]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Aali-Bujari]]></surname>
<given-names><![CDATA[Ali]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Venegas-Martínez]]></surname>
<given-names><![CDATA[Francisco]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Pérez-Lechuga]]></surname>
<given-names><![CDATA[Gilberto]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Autónoma del Estado de Hidalgo  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Instituto Politécnico Nacional  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>00</month>
<year>2017</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>00</month>
<year>2017</year>
</pub-date>
<volume>62</volume>
<numero>spe5</numero>
<fpage>1427</fpage>
<lpage>1441</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0186-10422017000501427&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0186-10422017000501427&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0186-10422017000501427&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract: This research is aimed at assessing the impact of the stock market capitalization and the banking spread in per capita economic growth (as a proxy of economic development) in the major Latin American economies during period 1994-2012. To do this, a panel data model is estimated with both system and difference Generalized Method of Moments. The main empirical findings are that economic growth in the countries under study is positively impacted by the stock market capitalization and negatively by the banking spread. Typical problems of multicollinearity and autocorrelation appearing in panel data analysis are corrected under the proposed methodology.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen: Esta investigación tiene como objetivo evaluar el impacto de la capitalización de mercado de valores y el spread bancario en el crecimiento económico per cápita (como proxy del desarrollo económico) en las principales economías de América Latina durante el período 1994-2012. Para ello, se estima un modelo de datos de panel con el Método Generalizado de Momentos tanto en sistema como en diferencias. Los principales hallazgos empíricos son que el crecimiento económico en los países estudiados es afectado positivamente por la capitalización bursátil y negativamente por el spread bancario. Los problemas típicos de multicolinealidad y autocorrelación que aparece en el análisis de datos de panel son corregidos bajo la metodología propuesta.]]></p></abstract>
<kwd-group>
<kwd lng="en"><![CDATA[Economic growth]]></kwd>
<kwd lng="en"><![CDATA[Economic development]]></kwd>
<kwd lng="en"><![CDATA[Financial sector]]></kwd>
<kwd lng="en"><![CDATA[Panel data]]></kwd>
<kwd lng="en"><![CDATA[O10]]></kwd>
<kwd lng="en"><![CDATA[O31]]></kwd>
<kwd lng="en"><![CDATA[O47]]></kwd>
<kwd lng="es"><![CDATA[Crecimiento económico]]></kwd>
<kwd lng="es"><![CDATA[Desarrollo económico]]></kwd>
<kwd lng="es"><![CDATA[Sector financiero]]></kwd>
<kwd lng="es"><![CDATA[Datos panel]]></kwd>
<kwd lng="es"><![CDATA[O10]]></kwd>
<kwd lng="es"><![CDATA[O31]]></kwd>
<kwd lng="es"><![CDATA[O47]]></kwd>
</kwd-group>
</article-meta>
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