Determinantes De La Productividad Multifactorial: Los Casos De Las Principales Economías Latinoamericanas Y Emergentes De Asia (1960 - 2015) (Determinants of Multifactor Productivity: the Cases of the Main Latin American and Emerging Economies of Asia (1960 - 2015))

42 Pages Posted: 11 Jul 2019

See all articles by Wilman Arturo Gomez

Wilman Arturo Gomez

Universidad de Antioquia - Economic

Carlos Esteban Posada

Universidad EAFIT

Remberto Rhenals

Universidad de Antioquia

Date Written: March 7, 2019

Abstract

Spanish Abstract: El objetivo de este trabajo fue explicar el mayor o menor ritmo de crecimiento de la productividad total de los factores (PTF) en las principales economías del este asiático y latinoamericanas entre 1960 y 2015. Encontramos evidencia econométrica favorable a una hipótesis: el aumento del gasto público de consumo, dada la evolución de otros factores, tiene un efecto negativo sobre la PTF. Otros resultados del ejercicio econométrico, aquellos relativos a hipotéticos efectos positivos de la inversión pública y de las importaciones sobre la PTF, no fueron, unos, tan robustos, ni, otros, tan confiables como hubiésemos esperado.

English Abstract: The objective of this paper was to explain the greater or lesser growth rate of total factor productivity, TFP, in the main East Asian and Latin American economies between 1960 and 2015. We found econometric evidence favorable to this hypothesis: the increase in public consumption expenditures, given the evolution of other factors, reduces the TFP. Other results of the econometric exercise, those that are related to hypothetical positive effects of public investment and imports on TFP were not as robust or as reliable as we would have expected.

Note: Downloadable document is in Spanish.

Keywords: Per capita GDP’s growth rate, total factor productivity, physical capital, human capital, public consumption, public investment, imports, panel cointegration

JEL Classification: C33, E22, E24, F43, F63

Suggested Citation

Gomez, Wilman Arturo and Esteban Posada, Carlos and Rhenals, Remberto, Determinantes De La Productividad Multifactorial: Los Casos De Las Principales Economías Latinoamericanas Y Emergentes De Asia (1960 - 2015) (Determinants of Multifactor Productivity: the Cases of the Main Latin American and Emerging Economies of Asia (1960 - 2015)) (March 7, 2019). Center for Research in Economics and Finance (CIEF), Working Papers, No. 19-09 (2019), Available at SSRN: https://ssrn.com/abstract=3348674 or http://dx.doi.org/10.2139/ssrn.3348674

Wilman Arturo Gomez (Contact Author)

Universidad de Antioquia - Economic ( email )

United States

Carlos Esteban Posada

Universidad EAFIT ( email )

Carrera 49 N° 7 sur – 50
Bogotá, Antioquia 00000
Colombia

Remberto Rhenals

Universidad de Antioquia ( email )

Calle 67 No. 53 108
Apartado Aereo
Medellin, 1226
Colombia

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