<?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>2448-6655</journal-id>
<journal-title><![CDATA[Análisis económico]]></journal-title>
<abbrev-journal-title><![CDATA[Anál. econ.]]></abbrev-journal-title>
<issn>2448-6655</issn>
<publisher>
<publisher-name><![CDATA[Universidad Autónoma Metropolitana, Unidad Azcapotzalco, División de Ciencias Sociales y Humanidades]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2448-66552019000300125</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Crédito, inversión y ganancias: un análisis empírico para la economía mexicana (2000-2014)]]></article-title>
<article-title xml:lang="en"><![CDATA[Credit, investment and profits: An empirical analysis for the Mexican economy (2000-2014)]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Levy Orlik]]></surname>
<given-names><![CDATA[Noemi]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Bustamante Torres]]></surname>
<given-names><![CDATA[Jorge]]></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[Ciudad de México ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad Nacional Autónoma de México Facultad de Economía División de Estudios de Posgrado]]></institution>
<addr-line><![CDATA[Ciudad de México ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2019</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2019</year>
</pub-date>
<volume>34</volume>
<numero>87</numero>
<fpage>125</fpage>
<lpage>148</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S2448-66552019000300125&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S2448-66552019000300125&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S2448-66552019000300125&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen: Este trabajo discute las relaciones causales entre el crédito, la inversión y las ganancias en el marco de la Teoría del Circuito Monetario a fin determinar las relaciones de causalidad entre dichas variables. El objetivo de este trabajo es determinar: ¿qué es lo que realmente financia el crédito bancario?; y ¿cuál es el papel de las ganancias en el modelo flujo-reflujo de la Teoría del Circuito Monetario? Se busca mostrar que el crédito bancario financia el capital circularte y que la inversión es financiada principalmente por las ganancias de periodos pasados. Ello se hace en el contexto de la economía mexicana durante el periodo, 2000-2014.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract This paper analyses the causal relations between credit, production, investment and profits, under the Monetary Circuit Theory in order to show causality and impact between these variables. The main issues of discussion that this paper addresses are (i) what really bank credit finances? And, (ii) what is the role of profits in the influx-reflux model of the monetary circuit? The argument of this paper are that bank credits finances working capital and profit finances investment. This analysis is made in the context of the Mexican economy in the financialization period, between 2000 and 2014.]]></p></abstract>
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<kwd lng="es"><![CDATA[Circuito monetario]]></kwd>
<kwd lng="es"><![CDATA[crédito bancario]]></kwd>
<kwd lng="es"><![CDATA[inversión]]></kwd>
<kwd lng="es"><![CDATA[ganancias]]></kwd>
<kwd lng="es"><![CDATA[financiamiento]]></kwd>
<kwd lng="en"><![CDATA[Monetary circuit]]></kwd>
<kwd lng="en"><![CDATA[bank credit]]></kwd>
<kwd lng="en"><![CDATA[finance]]></kwd>
<kwd lng="en"><![CDATA[investment]]></kwd>
<kwd lng="en"><![CDATA[profits]]></kwd>
</kwd-group>
</article-meta>
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