Determinants of inclusive economic growth in Latin America
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Date
2023-05-19
Journal Title
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Volume Title
Publisher
WSEAS
Redes Sociales
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Citación APAAbstract
The work aims to identify the determinants that influence inclusive economic growth in Latin America. The study’s methodology is quantitative with a nonexperimental design, for whose effect analysis was developed through a panel data model to identify the determinant variables of inclusive economic growth. Annual data of the main macroeconomic and social variables were used for a sample of 14 Latin American countries (Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Honduras, Mexico, Panama, Paraguay, Peru, and Uruguay); the study horizon comprises 25 years, between 1995 and 2019. The following variables were found to have a direct influence on inclusive economic growth: public spending and international trade; the study also showed that inflation, unemployment, and the presence of crises have a negative impact on inclusive economic growth. Moreover, an additional public expenditure of 1% implies an increase of 0.100% in inclusive economic growth, and for each positive variation of 1% in international trade, inclusive economic growth responds with an increase of 0.144%.
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Keywords
Inclusive economic growth, Public spending, International trade, Inflation, Unemployment, Gini index, Crecimiento económico inclusivo, Gasto público, Comercio internacional, Inflación, Desempleo, Índice de Gini
Citation
Angulo-Bustinza, H., Florez-Garcia, W., Calderon-Contreras, V., Peña-Cobeñas, D., Barrientos-Moscoso, M., & Zeballos-Ponce, V. (2023). Determinants of inclusive economic growth in Latin America. WSEAS Transactions on Business and Economics, 20, 1059-1073. https://doi.org/10.37394/23207.2023.20.96
