Abstract

LORIA, Eduardo; MORENO-BRID, Juan Carlos; SALAS, Emmanuel  and  SANCHEZ-JUAREZ, Isaac. Kaldorian Explanation of Low Economic Growth in Mexico. Prob. Des [online]. 2019, vol.50, n.196, pp.3-26. ISSN 0301-7036.  https://doi.org/10.22201/iiec.20078951e.2019.196.63506.

This paper uses Kaldor’s first law to provide an explanation for Mexico’s low economic growth over the last four decades. The starting point for analysis is the hypothesis that the lack of dynamism in total production (non-manufacturing) is due to slow momentum in manufacturing and, in particular, to the fact that the Kaldor coefficient has decreased with trade liberalization. Estimates were made (1980.1-2017.2) using the generalized method of moments (GMM) and rolling regression (recursive estimations). These estimates have been useful in solving the problem of serial correlation and have contributed towards a better statistical evaluation of the evolution of the Kaldor coefficient.

Keywords : Economic growth; Kaldor coefficient; manufacturing industry; enclave economy; structural change.

        · abstract in Spanish     · text in English | Spanish     · English ( pdf ) | Spanish ( pdf )