Citation:
[Journal:] Investigación Económica [ISSN:] 2594-2360 [Volume:] 78 [Issue:] 307 [Publisher:] Universidad Nacional Autónoma de México (UNAM), Faculdad de Economía [Place:] Ciudad de México [Year:] 2019 [Pages:] 3-32
Abstract (Translated):
This paper displays an analysis of the economic growth rates of Argentina, Brazil, Chile and Mexico during the period 1961-2017. Explanations related to total factor productivity and to capital ac- cumulation are here contrasted in a context of growth external constraint. The following conclusiones are reached on empirical grounds: Technological progress is an endogenous variable reacting to variations in aggregate demand necessary to fulfill the dynamic equilibrium of the trade balance; growth rates in those countries are closely linked to the growth rate of their economic capacity; the process of growth acceleration in these economies corresponded to high rates of capital accumulation.