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Determinantes del crecimiento en America Latina: Analisis empirico de los sistemas bancarios
[Economic growth determinants in Latin American region: An empirical analysis based on bank systems role]

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  • Carton, Christine
  • Ronquillo, Cely

Abstract

This article examines a theoretical framework for an explanation for the processes of growth experienced by the economies of Latin America. The economic literature is devoted primarily to analyze this topic based on the use of the macroeconomic production function as the main analytical concept. It is proposed to validate empirically the interaction between financial development and human capital as determinant of the processes of growth for the Latin American region. Thus, the major contribution of this study is the application of a translog production function which allows the analysis of the interaction that can exist between explanatory variables. Estimates are made with a panel data from 1980 to 2004, based on a sample of 16 countries representing the Latin American region. We found significant results suggest that financial development is as important as human capital for economic growth.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 10832.

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Date of creation: 16 Jan 2008
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Publication status: Published in Global Conference on Business and Finance Proceedings 3.3 (2)(2008): pp. 506-519
Handle: RePEc:pra:mprapa:10832

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Keywords: América Latina; Crecimiento; Desarrollo financiero; Capital humano; Datos en panel;

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