<?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>S0186-10422021000400109</article-id>
<article-id pub-id-type="doi">10.22201/fca.24488410e.2021.2820</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Sostenibilidad fiscal, la inversión productiva y el crecimiento económico en México]]></article-title>
<article-title xml:lang="en"><![CDATA[Fiscal sustainability, productive investment, and economic growth in Mexico]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Sánchez Vargas]]></surname>
<given-names><![CDATA[Armando]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Nacional Autónoma de México Instituto de Investigaciones Económicas ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2021</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2021</year>
</pub-date>
<volume>66</volume>
<numero>4</numero>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0186-10422021000400109&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0186-10422021000400109&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0186-10422021000400109&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Un mayor gasto gubernamental genera expansión económica, pero un déficit fiscal creciente podría ser un riesgo; ya que podría generar crisis financieras. El concepto de sostenibilidad fiscal, hace referencia a la conducción de las finanzas públicas en la que el gasto público no crezca por encima de los ingresos, de forma que se circunscriba el déficit fiscal para que la deuda pública no progrese más allá de la capacidad de desembolso del país. Es necesario tener índices para determinar qué tan sostenible sería la política fiscal en diferentes escenarios de deuda, inversión total y crecimiento del PIB. Con base en estimaciones de un modelo macroeconométrico encontramos que si comparamos la sostenibilidad de la deuda entre una línea basal y un escenario alternativo, en el que la inversión productiva aumenta, el crecimiento económico y la sostenibilidad del déficit mejoran. Concluimos que si es posible encontrar un balance entre crecimiento y sostenibilidad fiscal en México.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract Higher government spending generates economic expansion, but a growing fiscal deficit could be a risk; since it could generate financial crises. It is necessary to have indexes to determine how sustainable fiscal policy would be in different scenarios of debt, total investment, and GDP growth. Based on estimates from a macroeconometric model, we find that if we compare debt sustainability between a baseline and an alternative scenario, in which productive investment increases and the economic growth and deficit sustainability improve. We conclude that a balance between growth and fiscal sustainability in Mexico is possible.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[Modelo de ecuaciones simultáneas]]></kwd>
<kwd lng="es"><![CDATA[Política fiscal]]></kwd>
<kwd lng="es"><![CDATA[Sostenibilidad de la deuda]]></kwd>
<kwd lng="es"><![CDATA[Inversión pública]]></kwd>
<kwd lng="es"><![CDATA[PIB]]></kwd>
<kwd lng="en"><![CDATA[Simultaneous equations model]]></kwd>
<kwd lng="en"><![CDATA[Fiscal policy]]></kwd>
<kwd lng="en"><![CDATA[Debt sustainability]]></kwd>
<kwd lng="en"><![CDATA[Public investment]]></kwd>
<kwd lng="en"><![CDATA[GDP]]></kwd>
</kwd-group>
</article-meta>
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