Determinants of endogenous economic growth in 18 Latin American economies, 1985-2020: a dynamic panel analysis
DOI:
https://doi.org/10.33110/rnee.v21i1.384Keywords:
Latin America, Endogenous growth, exports, generalized method of moments, investment rateAbstract
Economic growth in Latin America faces structural challenges that hinder its sustainability. This study analyzes the determinants of endogenous growth in 18 economies of the region between 1985 and 2020, using a dynamic panel model estimated through the generalized method of moments in difference and system forms. The results indicate that average schooling, exports, and infrastructure positively affect growth, while initial GDP per capita, public expenditure, and the investment rate have negative effects, revealing growth patterns that differ from those proposed by traditional models.
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