<?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>0301-7036</journal-id>
<journal-title><![CDATA[Problemas del desarrollo]]></journal-title>
<abbrev-journal-title><![CDATA[Prob. Des]]></abbrev-journal-title>
<issn>0301-7036</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional Autónoma de México, Instituto de Investigaciones Económicas]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0301-70362021000300061</article-id>
<article-id pub-id-type="doi">10.22201/iiec.20078951e.2021.206.69501</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[El impacto de la inversión pública sobre la privada en las entidades federativas de México]]></article-title>
<article-title xml:lang="en"><![CDATA[The impact of public investment on private investment in Mexican states]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Gutiérrez Cruz]]></surname>
<given-names><![CDATA[Francisco Salvador]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Moreno Brid]]></surname>
<given-names><![CDATA[Juan Carlos]]></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 ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad Nacional Autónoma de México Facultad de Economía ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>09</month>
<year>2021</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>09</month>
<year>2021</year>
</pub-date>
<volume>52</volume>
<numero>206</numero>
<fpage>61</fpage>
<lpage>83</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0301-70362021000300061&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0301-70362021000300061&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0301-70362021000300061&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Uno de los resultados más robustos en la literatura sobre crecimiento económico es que la formación bruta de capital fijo es uno de sus principales determinantes. Menos fuerte es el consenso relativo a las interacciones entre la inversión pública y la privada. El propósito del presente artículo es aportar elementos para esta discusión concentrándose en las relaciones entre ambos componentes para México a nivel estatal. A diferencia del tratamiento usual en la literatura -cuyo enfoque se centra en "flujos" de inversión- se utiliza la variación de acervos de capital fijo. La metodología usada es la de econometria de datos panel. Los resultados indican un efecto positivo entre ambos componentes -público y privado-, en cuanto a la variación de sus acervos.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract The literature on economic growth has robustly demonstrated that gross fixed capital formation is a principal determinant of economic growth. What is more debatable, however, is the consensus regarding the interactions between public and private investment. The aim of this article is to contribute to this debate by focusing on the relationships between public and private investment in Mexico at the state level. In contrast to the conventional approaches which focus on investment "flows," this article employs the variation in fixed capital stocks, adopting a panel econometric methodology. Findings indicate a positive relationship between both components -public and private- in terms of the variation of their stocks.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[inversión pública]]></kwd>
<kwd lng="es"><![CDATA[inversión privada]]></kwd>
<kwd lng="es"><![CDATA[datos panel]]></kwd>
<kwd lng="es"><![CDATA[efecto sustitución]]></kwd>
<kwd lng="es"><![CDATA[efecto complemento]]></kwd>
<kwd lng="es"><![CDATA[acervos de capital]]></kwd>
<kwd lng="es"><![CDATA[C32]]></kwd>
<kwd lng="es"><![CDATA[H50]]></kwd>
<kwd lng="en"><![CDATA[public investment]]></kwd>
<kwd lng="en"><![CDATA[private investment]]></kwd>
<kwd lng="en"><![CDATA[panel data]]></kwd>
<kwd lng="en"><![CDATA[substitution effect]]></kwd>
<kwd lng="en"><![CDATA[complement effect]]></kwd>
<kwd lng="en"><![CDATA[capital stocks]]></kwd>
</kwd-group>
</article-meta>
</front><back>
<ref-list>
<ref id="B1">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Aghion]]></surname>
<given-names><![CDATA[P.]]></given-names>
</name>
<name>
<surname><![CDATA[Howitt]]></surname>
<given-names><![CDATA[P. W]]></given-names>
</name>
</person-group>
<source><![CDATA[The economics of growth]]></source>
<year>2008</year>
<publisher-name><![CDATA[The MIT Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B2">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Almon]]></surname>
<given-names><![CDATA[C]]></given-names>
</name>
</person-group>
<source><![CDATA[The craft of economic modeling]]></source>
<year>1999</year>
<publisher-name><![CDATA[Ginn Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B3">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Aparicio]]></surname>
<given-names><![CDATA[J.]]></given-names>
</name>
<name>
<surname><![CDATA[Márquez]]></surname>
<given-names><![CDATA[J]]></given-names>
</name>
</person-group>
<source><![CDATA[Diagnóstico y especificación de modelos panel en Stata 8.0. Documento de trabajo]]></source>
<year>2005</year>
<publisher-name><![CDATA[CIDE]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B4">
<nlm-citation citation-type="">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Arslanalp]]></surname>
<given-names><![CDATA[S.]]></given-names>
</name>
<name>
<surname><![CDATA[Bornhorst]]></surname>
<given-names><![CDATA[F.]]></given-names>
</name>
<name>
<surname><![CDATA[Gupta]]></surname>
<given-names><![CDATA[S.]]></given-names>
</name>
<name>
<surname><![CDATA[Sze]]></surname>
<given-names><![CDATA[E]]></given-names>
</name>
</person-group>
<source><![CDATA[Public capital and growth. IMF working paper]]></source>
<year>2010</year>
</nlm-citation>
</ref>
<ref id="B5">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Arslanalp]]></surname>
<given-names><![CDATA[S.]]></given-names>
</name>
<name>
<surname><![CDATA[Bornhorst]]></surname>
<given-names><![CDATA[F]]></given-names>
</name>
<name>
<surname><![CDATA[Gupta]]></surname>
<given-names><![CDATA[S]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Investing in growth]]></article-title>
<source><![CDATA[Finance and Development]]></source>
<year>2011</year>
<volume>48</volume>
<numero>1</numero>
<issue>1</issue>
</nlm-citation>
</ref>
<ref id="B6">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Blecker]]></surname>
<given-names><![CDATA[R.]]></given-names>
</name>
<name>
<surname><![CDATA[Setterfield]]></surname>
<given-names><![CDATA[M]]></given-names>
</name>
</person-group>
<source><![CDATA[Heterodox macroeconomics]]></source>
<year>2019</year>
<publisher-name><![CDATA[Edward Elgar]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B7">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Castillo]]></surname>
<given-names><![CDATA[R.]]></given-names>
</name>
<name>
<surname><![CDATA[Herrera]]></surname>
<given-names><![CDATA[J]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Efecto del gasto público sobre el gasto privado en México]]></article-title>
<source><![CDATA[Revista de Estudios Económicos]]></source>
<year>2005</year>
<volume>20</volume>
<numero>2</numero>
<issue>2</issue>
</nlm-citation>
</ref>
<ref id="B8">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Fonseca]]></surname>
<given-names><![CDATA[F]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[El impacto de la inversión pública sobre la inversión privada en México, 1980-2007]]></article-title>
<source><![CDATA[Revista de Estudios Económicos]]></source>
<year>2009</year>
<volume>24</volume>
<numero>2</numero>
<issue>2</issue>
</nlm-citation>
</ref>
<ref id="B9">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Guerrero]]></surname>
<given-names><![CDATA[C]]></given-names>
</name>
</person-group>
<source><![CDATA[La inversión: teoría y comportamiento en México 1981-1995]]></source>
<year>1996</year>
<publisher-name><![CDATA[UACEPyP, UNAM]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B10">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Gutiérrez]]></surname>
<given-names><![CDATA[F]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[El impacto del gasto público sobre la inversión privada en México (1980-2015)]]></article-title>
<source><![CDATA[Revista Economía UNAM]]></source>
<year>2017</year>
<numero>42</numero>
<issue>42</issue>
</nlm-citation>
</ref>
<ref id="B11">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Gutiérrez]]></surname>
<given-names><![CDATA[F]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Estimación del stock de capital público en México a nivel estatal: 1990-2015]]></article-title>
<source><![CDATA[Revista Economía Informa]]></source>
<year>2017</year>
<numero>404</numero>
<issue>404</issue>
</nlm-citation>
</ref>
<ref id="B12">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Hernández]]></surname>
<given-names><![CDATA[J]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Inversión pública y crecimiento económico: hacia una nueva perspectiva de la función del gobierno]]></article-title>
<source><![CDATA[Revista Economía: Teoría y Práctica]]></source>
<year>2010</year>
<numero>33</numero>
<issue>33</issue>
</nlm-citation>
</ref>
<ref id="B13">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Hofman]]></surname>
<given-names><![CDATA[A]]></given-names>
</name>
</person-group>
<source><![CDATA[The economic development of Latin America in the twentieth century]]></source>
<year>2000</year>
<publisher-name><![CDATA[Edward Elgar]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B14">
<nlm-citation citation-type="">
<collab>Instituto Nacional de Estadística y Geografía</collab>
<source><![CDATA[Sistema de Cuentas Nacionales de México]]></source>
<year>2020</year>
</nlm-citation>
</ref>
<ref id="B15">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Lachler]]></surname>
<given-names><![CDATA[U.]]></given-names>
</name>
<name>
<surname><![CDATA[Aschauer]]></surname>
<given-names><![CDATA[D]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Public investment and economic growth in Mexico]]></article-title>
<source><![CDATA[Policy Research Working Paper 1964]]></source>
<year>1998</year>
<publisher-loc><![CDATA[August ]]></publisher-loc>
<publisher-name><![CDATA[World Bank]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B16">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Loría]]></surname>
<given-names><![CDATA[E.]]></given-names>
</name>
<name>
<surname><![CDATA[de Jesús]]></surname>
<given-names><![CDATA[L]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Los acervos de capital de México. Una estimación, 1980.I-2004.IV]]></article-title>
<source><![CDATA[El trimestre económico]]></source>
<year>2007</year>
<volume>74</volume>
<numero>294</numero>
<issue>294</issue>
</nlm-citation>
</ref>
<ref id="B17">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Nurkse]]></surname>
<given-names><![CDATA[R]]></given-names>
</name>
</person-group>
<source><![CDATA[Problems of capital formation in underdeveloped countries]]></source>
<year>1953</year>
<publisher-name><![CDATA[Oxford University Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B18">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Ramírez]]></surname>
<given-names><![CDATA[M]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Is public infrastructure investment productive in the Mexican case? A vector error correction analysis]]></article-title>
<source><![CDATA[Journal of International Trade and Economic Development]]></source>
<year>2004</year>
<volume>13</volume>
<numero>2</numero>
<issue>2</issue>
</nlm-citation>
</ref>
<ref id="B19">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Ros]]></surname>
<given-names><![CDATA[J]]></given-names>
</name>
</person-group>
<source><![CDATA[Rethinking economic development, growth and institutions]]></source>
<year>2013</year>
<publisher-name><![CDATA[Oxford University Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B20">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Ros]]></surname>
<given-names><![CDATA[J]]></given-names>
</name>
</person-group>
<source><![CDATA[Algunas tesis equivocadas sobre el estancamiento económico de México]]></source>
<year>2013</year>
<publisher-name><![CDATA[El Colegio de México]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B21">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Sala-i-Martin]]></surname>
<given-names><![CDATA[X]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[I just ran two million regressions]]></article-title>
<source><![CDATA[American Economic Review]]></source>
<year>1997</year>
<volume>87</volume>
<numero>2</numero>
<issue>2</issue>
</nlm-citation>
</ref>
<ref id="B22">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Shiau]]></surname>
<given-names><![CDATA[A.]]></given-names>
</name>
<name>
<surname><![CDATA[Kilpatrick]]></surname>
<given-names><![CDATA[J.]]></given-names>
</name>
<name>
<surname><![CDATA[Matthews]]></surname>
<given-names><![CDATA[M]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Seven percent grow for Mexico? A quantitative assessment of Mexico's investment requirements]]></article-title>
<source><![CDATA[Journal of Policy Modeling]]></source>
<year>2002</year>
<volume>24</volume>
<numero>7-8</numero>
<issue>7-8</issue>
</nlm-citation>
</ref>
<ref id="B23">
<nlm-citation citation-type="book">
<collab>UNCTAD</collab>
<source><![CDATA[Trade and development report 2003: Capital accumulation, growth and structural change]]></source>
<year>2003</year>
<publisher-name><![CDATA[UNCTAD]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B24">
<nlm-citation citation-type="book">
<collab>UNCTAD</collab>
<source><![CDATA[Trade and development 2016: Structural transformation for inclusive and sustained growth]]></source>
<year>2016</year>
<publisher-name><![CDATA[ONU]]></publisher-name>
</nlm-citation>
</ref>
</ref-list>
</back>
</article>
