<?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>1665-5346</journal-id>
<journal-title><![CDATA[Revista mexicana de economía y finanzas]]></journal-title>
<abbrev-journal-title><![CDATA[Rev. mex. econ. finanz]]></abbrev-journal-title>
<issn>1665-5346</issn>
<publisher>
<publisher-name><![CDATA[Instituto Mexicano de Ejecutivos de Finanzas A.C.]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S1665-53462024000300002</article-id>
<article-id pub-id-type="doi">10.21919/remef.v19i3.1013</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[The endogeneity of the natural rate of growth in Latin America]]></article-title>
<article-title xml:lang="es"><![CDATA[La endogeneidad de la tasa natural de crecimiento en América Latina]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Ochoa León]]></surname>
<given-names><![CDATA[Sara María]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Muller Durán]]></surname>
<given-names><![CDATA[Nancy Ivonne]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Rodriguez Benavides]]></surname>
<given-names><![CDATA[Domingo]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Nacional Autónoma de México  ]]></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>09</month>
<year>2024</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>09</month>
<year>2024</year>
</pub-date>
<volume>19</volume>
<numero>3</numero>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S1665-53462024000300002&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S1665-53462024000300002&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S1665-53462024000300002&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract This study estimates the natural rate of growth à la León-Ledesma and Thirlwall for a panel of eleven Latin American countries from 2000 to 2023 using the seemingly unrelated regressions (SUR) estimator. Likewise, in the model, we incorporate a dummy variable in boom periods to determine whether endogeneity is present due to variations in the current rate of growth. Our results show that the behavior of the natural rate has a direct relationship with changes in the current rate; that is, it increases in boom periods and decreases during recessions, confirming the presence of endogeneity. In this sense, it is advisable to continue exploring the nature of the sensitivity of the natural growth rate to the economic situation. By providing recent evidence for Latin American countries with different degrees of economic development, our results allow us to conclude that the hypothesis of full employment on the supply side is not sufficient to explain the economic dynamics, so the inclusion of demand variables is necessary.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Este estudio estima la tasa natural de crecimiento à la León-Ledesma y Thirlwall para un panel de once países de América Latina en el periodo 2000-2023 mediante el estimador de regresiones aparentemente no relacionadas (SUR por sus siglas en inglés). Asimismo, en el modelo incorporamos una variable ficticia en los periodos de auge para determinar si la endogeneidad se debe a las variaciones de la tasa de crecimiento actual. Nuestros resultados muestran que el comportamiento de la tasa natural tiene una relación directa con los cambios de la tasa actual, es decir, aumenta en períodos de auge y disminuye durante las recesiones, ratificado la presencia de endogeneidad. En este sentido, conviene seguir explorando la naturaleza de la sensibilidad de la tasa de crecimiento natural a la coyuntura económica. Al aportar evidencia reciente para países de América Latina con distintos grados de desarrollo económico, nuestros resultados permiten concluir que la hipótesis de pleno empleo por el lado de la oferta no es suficiente para explicar la dinámica económica, por lo que es necesaria la inclusión de variables de demanda.]]></p></abstract>
<kwd-group>
<kwd lng="en"><![CDATA[natural rate of growth]]></kwd>
<kwd lng="en"><![CDATA[endogeneity]]></kwd>
<kwd lng="en"><![CDATA[seemingly unrelated regressions]]></kwd>
<kwd lng="es"><![CDATA[tasa natural de crecimiento]]></kwd>
<kwd lng="es"><![CDATA[endogeneidad]]></kwd>
<kwd lng="es"><![CDATA[regresiones aparentemente no relacionadas]]></kwd>
</kwd-group>
</article-meta>
</front><back>
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