Capital accumulation, economic growth and the balance-of-payments constraint:  The case of Mexico,  1951-2014

Ignacio Perrotini Hernández; Juan Alberto Vázquez-Muñoz; María Isabel Angoa Pérez

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dc.creator	Ignacio Perrotini Hernández
dc.creator	Juan Alberto Vázquez-Muñoz
dc.creator	María Isabel Angoa Pérez
dc.date	2019
dc.date.accessioned	2022-03-23T19:04:02Z
dc.date.available	2022-03-23T19:04:02Z
dc.identifier	http://www.redalyc.org/articulo.oa?id=85954254003
dc.identifier.uri	http://biblioteca-repositorio.clacso.edu.ar/handle/CLACSO/114725
dc.description	After a critical assessment of both Thirlwalls long-run growth model and Clavijos and Ross (2015) model in which capital accumulation determines output growth, this paper displays an alternative model where capital accumulation and the growth rate of capital productivity determine the long-run growth rate of output which is consistent with a constant position of the balance of payments as a percentage of GDP. Then, the latter is applied to inquire the causes accounting for Mexicos low economic growth rate during 1982-2014. We conclude, on empirical grounds, that the sharp decline in the internal demand for domestic goods and both the rates of net capital accumulation and capital productivity played a major role in the slowdown of the Mexican economy. The income elasticities of the demand for exports and imports also played a role, albeit to a lesser extent.
dc.format	application/pdf
dc.language	en
dc.publisher	Universidad Autónoma de Ciudad Juárez
dc.relation	http://www.redalyc.org/revista.oa?id=859
dc.rights	NÓESIS. REVISTA DE CIENCIAS SOCIALES
dc.source	NÓESIS. REVISTA DE CIENCIAS SOCIALES (México) Num.55 Vol.28
dc.subject	Multidisciplinarias (Ciencias Sociales)
dc.subject	Capital accumulation
dc.subject	growth
dc.subject	balance of payments
dc.title	Capital accumulation, economic growth and the balance-of-payments constraint: The case of Mexico, 1951-2014
dc.type	artículo científico