Determinants of inclusive economic growth in Latin America

• Autores: Angulo-Bustinza, Harold, Florez-Garcia, Wilmer, Calderon-Contreras, Valentín, Peña-Cobeñas, Dagoberto, Barrientos-Moscoso, Madeley, Zeballos-Ponce, Valeria
• Formato: artículo
• Fecha de Publicación: 2023
• Institución: Universidad ESAN
• Repositorio: ESAN-Institucional
• Lenguaje: inglés
• OAI Identifier: oai:repositorio.esan.edu.pe:20.500.12640/3487
• Enlace del recurso: https://hdl.handle.net/20.500.12640/3487; https://doi.org/10.37394/23207.2023.20.96
• Nivel de acceso: acceso abierto
• Materia: Inclusive economic growth; Public spending; International trade; Inflation; Unemployment; Gini index; Crecimiento económico inclusivo; Gasto público; Comercio internacional; Inflación; Desempleo; Índice de Gini; https://purl.org/pe-repo/ocde/ford#5.02.04

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%.