<?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>S0186-10422021000400115</article-id>
<article-id pub-id-type="doi">10.22201/fca.24488410e.2021.2977</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Impacto del desarrollo financiero en el crecimiento económico de América Latina]]></article-title>
<article-title xml:lang="en"><![CDATA[Impact of financial development on Latin America's economic growth]]></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[Silva Barrón]]></surname>
<given-names><![CDATA[Thalía]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Autónoma Metropolitana  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad Autónoma Metropolitana  ]]></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=S0186-10422021000400115&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0186-10422021000400115&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0186-10422021000400115&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El objetivo de este trabajo es examinar la incidencia del desarrollo financiero sobre el crecimiento económico. Con este fin, mediante un modelo autorregresivo con rezagos distribuidos (ARDL) para panel, se prueba empíricamente la contribución del mercado de capitales y del sistema bancario en la dinámica del producto interno bruto per cápita (PIBpc) en América Latina (AL) durante el periodo 1990-2017. Los resultados principales indican que: i) la profundización del sistema financiero genera efectos positivos en la evolución del producto, aunque la magnitud de estos coeficientes es pequeña; ii) el comercio internacional y el esfuerzo tecnológico local mantienen una relación directa con el desempeño económico; y, iii) la correlación entre la inversión extranjera directa (IED) y la evolución del producto es negativa.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract The aim of this paper is to examine the impact of financial development on economic growth. To that effect, the contribution of both the capital market and the banking system to the dynamics of the per capita gross domestic product (GDPpc) in Latin America (LA) is empirically tested for the period 19962017 with a panel Autoregressive Distributive Lag (ADL) model. Our main findings show that: i) the deepening of the financial system generates positive effects on the evolution of the product, though the coefficients are small; ii) international trade and the local technological effort maintain a direct relationship with economic performance; iii) the correlation between foreign direct investment (FDI) and product evolution is negative.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[Sistema bancario]]></kwd>
<kwd lng="es"><![CDATA[Mercado de capitales]]></kwd>
<kwd lng="es"><![CDATA[Crecimiento económico]]></kwd>
<kwd lng="es"><![CDATA[Modelo ARDL para panel]]></kwd>
<kwd lng="es"><![CDATA[América Latina]]></kwd>
<kwd lng="en"><![CDATA[Banking system]]></kwd>
<kwd lng="en"><![CDATA[Capital market]]></kwd>
<kwd lng="en"><![CDATA[Economic growth]]></kwd>
<kwd lng="en"><![CDATA[ARDL panel model]]></kwd>
<kwd lng="en"><![CDATA[Latin America]]></kwd>
</kwd-group>
</article-meta>
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