The purpose of this work is to determine impact of human capital (HC) formation on foreign direct... more The purpose of this work is to determine impact of human capital (HC) formation on foreign direct investment (FDI) inflows in Mexico, where there is a lack of these kind studies. The main contribution is to test a nonlinear relationship between HC-FDI with a panel data regression. The panel was constructed for the 32 Federal States in the period of 2007-2012, it is controlled for the larger States (in GDP) and US border States with a dummy variable. Test consist in a nonlinear relationship of tertiary and postgraduate enrollment over FDI with Random Effects, where also a cointegration analysis is done with the Levin and Lin (LL), and the Im, Pesaran and Shin (IPS) tests to validate the long term relationship. Implications are important for Federal States, to configure an appropriate combination of tertiary and postgraduate critical mass of HC to attract FDI inflows.
El propósito de este trabajo es determinar el impacto de la formación de capital humano (CH) en la inversión extranjera directa (IED) en México, donde se carece de este tipo de estudios. La principal contribución consiste en probar la existencia de una relación no lineal entre CH-IED con datos en panel. El panel fue construido para las 32 entidades federativas en el periodo 2007-2012. Se controló para los estados más grandes (en producto interno bruto [PIB]) y para estados fronterizos con una variable dicotómica. La prueba consistió en una relación no lineal de las matrículas de niveles terciaros y de posgrado sobre la IED con efectos aleatorios. Además, se realizó un análisis de cointegración con las pruebas LL e IPS para validar la relación en el largo plazo. Las implicaciones son importantes para las entidades federativas, en aras de configurar una masa crítica de CH de educación terciaria y posgrado para atraer flujos de IED.
The aim of this paper is to analyze the internationalization strategies followed by enterprises i... more The aim of this paper is to analyze the internationalization strategies followed by enterprises in the world, distinguishing between big enterprises and other firms (SMEs). In particular, we want to delve into determinants of internationalization and processes that allow companies to perform in international markets according to their resources. We developed an analytical framework based on the resources-based view of the firm and on two internationalization models, the Uppsala and Born-Global models, with the purpose of allowing the analysis of different typologies of internationalized firms. By the use of Probit, Logit and Linear regression models, the empirical results provide evidence supporting both theoretical models proposed. One group of firms presents a gradual internationalization, as suggests the Uppsala model. A second group follows an accelerated internationalization, consistent with the born-global approach. An interesting finding is that sequential internationalizatio...
El propósito de este artículo es analizar la contribución de las Empresas de Base Tecnológica (EB... more El propósito de este artículo es analizar la contribución de las Empresas de Base Tecnológica (EBT) a la economía Mexicana. El estudio incluye la exploración de los sectores donde participa la EBT así como la participación que tienen los cuatro estratos de empresas por su tamaño. La comparación enfatiza la aportación de las pymes y de la empresa grande en la generación de valor agregado en los sectores en donde se localizan, enfatizando su desempeño general. Los hallazgos principales indican que las EBT mexicana contribuyen al PIB manufacturero nacional con un poco más del 20% a pesar de que constituyen solo el 2% de las empresas Mexicanas. Asimismo se identificó que son las microempresas las que tienen el más alto valor agregado pero son las grandes empresas las que tienen una contribución mayor a la economía. Adicionalmente se encontró que los rendimientos crecientes de escala no son una condición que afecte al desempeño de la EBT.
The aim of this paper is to analyze the internationalization strategies followed by enterprises i... more The aim of this paper is to analyze the internationalization strategies followed by enterprises in the world, distinguishing between big enterprises and other firms (SMEs). In particular, we want to delve into determinants of internationalization and processes that allow companies to perform in international markets according to their resources. We developed an analytical framework based on the resources-based view of the firm and on two internationalization models, the Uppsala and Born-Global models, with the purpose of allowing the analysis of different typologies of internationalized firms. By the use of Probit, Logit and Linear regression models, the empirical results provide evidence supporting both theoretical models proposed. One group of firms presents a gradual internationalization, as suggests the Uppsala model. A second group follows an accelerated internationalization, consistent with the born-global approach. An interesting finding is that sequential internationalization is more common and that the structural factors explain international strategy better for SMEs than internal factors.
The present work analyses the interaction between firms as a strategical resources obtaining stra... more The present work analyses the interaction between firms as a strategical resources obtaining strategy in technology based firms (tbF). It is taken as reference the model of Vhora et al. (2004), where the tbF for achieving the optimal development must success different junctures or critical transitions, also those junctures exist in the different phases of the tbF performance. The strategic interactions are one of the mechanisms that allow the success of the different junctures, allowing the access to strategical resources that are valuable for the tbF. These interactions can reduce the cost and the risk in the development of the resources. But this mechanism supposes the risk of imitation given that it is related with the base of strategical resources in which the tbF support the competitive advantage of the firm. In this spirit sharing strategical resources could be seen itself as an anomaly in the theory of the resources based view (rbv) of the firm, which is studied in this work. Also is established an ex –ante profile of strategical resources needed for the tbF in the different phases of the development of the firm. The game theory is used to show these conditions.
Recently, innovation and internationalization strategies have explained firm success. Some author... more Recently, innovation and internationalization strategies have explained firm success. Some authors argue that innovation settles internationalization while some others point that internationalization settles the firm’s innovation level. This work unifies these theories, arguing that both are a single strategy of the firm. We also argue that both theories are founded in the same set of variables like technological capabilities, technology investment, alliances and firm decision structure. Tests are based on correlation and regression analysis. We demonstrate the existence of a relationship between innovation and internationalization that can’t be explained by separating them into separate theories.
El presente trabajo analiza las interacciones entre empresas como estrategia de obtención de recu... more El presente trabajo analiza las interacciones entre empresas como estrategia de obtención de recursos estratégicos en Empresas de Base Tecnológica (EBT). Se toma como referencia el modelo de Vohora et al (2004), en donde se plantea que las EBT, para conseguir su desarrollo óptimo deben superar diferentes junturas o transiciones criticas, que existen entre las diversas etapas de su funcionamiento. Las alianzas o interacciones estratégicas constituyen uno de los mecanismos que permiten superar dichas transiciones críticas, ya que posibilitan el acceso a los recursos que son valiosos para las EBTs. A través de las interacciones se puede reducir el costo y el riesgo en el desarrollo de recursos estratégicos. Pero este mecanismo de obtención de recursos supone un riesgo de imitación competitiva importante ya que está asociado a la base de recursos estratégicos en que se sustenta la ventaja competitiva de la empresa, o que inclusive justifica la creación y existencia de la EBT en cuestión. En este sentido, desde la perspectiva teórica, tanto de la ventaja competitiva (teoría de recursos y capacidades) como desde los modelos de creación de EBT, compartir recursos estratégicos podría ser considerado una anomalía, el presente trabajo aborda también el análisis de dicha anomalía. Además se establece de manera ex –ante cual es el perfil de los recursos estratégicos a los que la EBT necesita acceder en sus diferentes fases de madurez.
Many authors have remarked the importance of the Technology Based Firm (TBF) in the last years, i... more Many authors have remarked the importance of the Technology Based Firm (TBF) in the last years, in part due to factors like innovation, production scale, technological change and their flexibility in the production processes to create aggregate value. Instead of these arguments there is not a definition of the technology based sectors, these sectors and their technological level are described in this article. It is also analyzed the returns of scale and the size composition of these technological sectors, where it is shown that the technology based SMEs are as efficient as the large enterprises.
Results presented here are part of a research program that seeks to understand the relationships ... more Results presented here are part of a research program that seeks to understand the relationships between investment in science and technology (S&T) and economic growth at an aggregate level in Latin America and North America, with particular emphasis in the Mexican case. Building on the basis of previous studies at both the micro and the macro level data that have been done in Europe, the United States and Canada, we build an econometric model that seeks to assess the impact of economic country-level investment in S&T on aggregate-level labour productivity measures. Our aim is to contribute evidence for the case that S&T investment (as measured by GERD, or Gross Expenditure in Research and Development) has a quantifiable impact in total factor productivity and particularly on labour productivity for Latin American countries. This relationship has been extensively studied and documented, albeit with ambiguous results in most cases for other regions, but not for Latin America, where it has only received scant attention to date. Our results establish statistically significant relationships in models presented for clustered groups of countries, with a significant effect of lagged variables that is consistent with findings by other authors in the field.
Desarrollo económico de Jalisco. Retrospectiva y retos. pp. 319-348. ISBN: 978-607-96055-0-6 (Versión impresa) ISBN: 978-607-96055-1-3 (Versión digital), Jan 2013
El tejido empresarial de Jalisco se caracteriza por estar constituido fundamentalmente por empres... more El tejido empresarial de Jalisco se caracteriza por estar constituido fundamentalmente por empresas de tamaño micro, pequeño y mediano. Por este motivo, entender la situación que guarda el sector, su dinámica, pautas evolutivas y sobre todo, sus retos estratégicos, es fundamental para entender el desempeño económico del estado y sus potencialidades de desarrollo futuro. Así, este capítulo analiza la evolución del conjunto de la Pequeña y Mediana Empresa (PyME) en México y particularmente en Jalisco a partir de los datos de los Censos Económicos de 1999, 2004 y 2009 y de otras fuentes como el Sistema de Información Empresarial Mexicano (SIEM). Este análisis incluye la distribución de las empresas por sectores y por tamaño, y realiza un comparativo entre las tendencias observadas a nivel nacional y estatal, lo cual permite la identificación de diferencias significativas en el desempeño, así como el establecimiento de los retos que deberán enfrentar las empresas que constituyen el conjunto de la PyME en su proceso de modernización y consolidación.
The aim of this paper is to analyze the relationship between economic and social performance of s... more The aim of this paper is to analyze the relationship between economic and social performance of small and medium enterprises (SMEs) and competitiveness of the regions in which these companies are located. In order to analyze the evolution of the corporate structure in Mexico during the period between 1999 and 2010, indices of economic and social performance were developed. The indices were developed based on the information contained in economic census of 1999 2004 and 2009. The indices include measures at national level and also at the state level. Bordering states were selected for their regional representativeness. The indices obtained were compared with the evolution of these states have had in the ranking of competitiveness calculated by the Mexican Institute for Competitiveness (IMCO). The focus of analysis was at the performance of the Micro, Small and Medium Enterprises (SMEs) because such firms represent about 99% of the business and are the main employer in the country. The results show how each state has pursued a strategy of promoting competitiveness different, but in general terms there is a clear gain in competitiveness the structural reforms that attract large companies is necessary, but also the establishment of policies that promote the creation and improving the performance of SMEs
The purpose of this work is to determine impact of human capital (HC) formation on foreign direct... more The purpose of this work is to determine impact of human capital (HC) formation on foreign direct investment (FDI) inflows in Mexico, where there is a lack of these kind studies. The main contribution is to test a nonlinear relationship between HC-FDI with a panel data regression. The panel was constructed for the 32 Federal States in the period of 2007-2012, it is controlled for the larger States (in GDP) and US border States with a dummy variable. Test consist in a nonlinear relationship of tertiary and postgraduate enrollment over FDI with Random Effects, where also a cointegration analysis is done with the Levin and Lin (LL), and the Im, Pesaran and Shin (IPS) tests to validate the long term relationship. Implications are important for Federal States, to configure an appropriate combination of tertiary and postgraduate critical mass of HC to attract FDI inflows.
El propósito de este trabajo es determinar el impacto de la formación de capital humano (CH) en la inversión extranjera directa (IED) en México, donde se carece de este tipo de estudios. La principal contribución consiste en probar la existencia de una relación no lineal entre CH-IED con datos en panel. El panel fue construido para las 32 entidades federativas en el periodo 2007-2012. Se controló para los estados más grandes (en producto interno bruto [PIB]) y para estados fronterizos con una variable dicotómica. La prueba consistió en una relación no lineal de las matrículas de niveles terciaros y de posgrado sobre la IED con efectos aleatorios. Además, se realizó un análisis de cointegración con las pruebas LL e IPS para validar la relación en el largo plazo. Las implicaciones son importantes para las entidades federativas, en aras de configurar una masa crítica de CH de educación terciaria y posgrado para atraer flujos de IED.
The aim of this paper is to analyze the internationalization strategies followed by enterprises i... more The aim of this paper is to analyze the internationalization strategies followed by enterprises in the world, distinguishing between big enterprises and other firms (SMEs). In particular, we want to delve into determinants of internationalization and processes that allow companies to perform in international markets according to their resources. We developed an analytical framework based on the resources-based view of the firm and on two internationalization models, the Uppsala and Born-Global models, with the purpose of allowing the analysis of different typologies of internationalized firms. By the use of Probit, Logit and Linear regression models, the empirical results provide evidence supporting both theoretical models proposed. One group of firms presents a gradual internationalization, as suggests the Uppsala model. A second group follows an accelerated internationalization, consistent with the born-global approach. An interesting finding is that sequential internationalizatio...
El propósito de este artículo es analizar la contribución de las Empresas de Base Tecnológica (EB... more El propósito de este artículo es analizar la contribución de las Empresas de Base Tecnológica (EBT) a la economía Mexicana. El estudio incluye la exploración de los sectores donde participa la EBT así como la participación que tienen los cuatro estratos de empresas por su tamaño. La comparación enfatiza la aportación de las pymes y de la empresa grande en la generación de valor agregado en los sectores en donde se localizan, enfatizando su desempeño general. Los hallazgos principales indican que las EBT mexicana contribuyen al PIB manufacturero nacional con un poco más del 20% a pesar de que constituyen solo el 2% de las empresas Mexicanas. Asimismo se identificó que son las microempresas las que tienen el más alto valor agregado pero son las grandes empresas las que tienen una contribución mayor a la economía. Adicionalmente se encontró que los rendimientos crecientes de escala no son una condición que afecte al desempeño de la EBT.
The aim of this paper is to analyze the internationalization strategies followed by enterprises i... more The aim of this paper is to analyze the internationalization strategies followed by enterprises in the world, distinguishing between big enterprises and other firms (SMEs). In particular, we want to delve into determinants of internationalization and processes that allow companies to perform in international markets according to their resources. We developed an analytical framework based on the resources-based view of the firm and on two internationalization models, the Uppsala and Born-Global models, with the purpose of allowing the analysis of different typologies of internationalized firms. By the use of Probit, Logit and Linear regression models, the empirical results provide evidence supporting both theoretical models proposed. One group of firms presents a gradual internationalization, as suggests the Uppsala model. A second group follows an accelerated internationalization, consistent with the born-global approach. An interesting finding is that sequential internationalization is more common and that the structural factors explain international strategy better for SMEs than internal factors.
The present work analyses the interaction between firms as a strategical resources obtaining stra... more The present work analyses the interaction between firms as a strategical resources obtaining strategy in technology based firms (tbF). It is taken as reference the model of Vhora et al. (2004), where the tbF for achieving the optimal development must success different junctures or critical transitions, also those junctures exist in the different phases of the tbF performance. The strategic interactions are one of the mechanisms that allow the success of the different junctures, allowing the access to strategical resources that are valuable for the tbF. These interactions can reduce the cost and the risk in the development of the resources. But this mechanism supposes the risk of imitation given that it is related with the base of strategical resources in which the tbF support the competitive advantage of the firm. In this spirit sharing strategical resources could be seen itself as an anomaly in the theory of the resources based view (rbv) of the firm, which is studied in this work. Also is established an ex –ante profile of strategical resources needed for the tbF in the different phases of the development of the firm. The game theory is used to show these conditions.
Recently, innovation and internationalization strategies have explained firm success. Some author... more Recently, innovation and internationalization strategies have explained firm success. Some authors argue that innovation settles internationalization while some others point that internationalization settles the firm’s innovation level. This work unifies these theories, arguing that both are a single strategy of the firm. We also argue that both theories are founded in the same set of variables like technological capabilities, technology investment, alliances and firm decision structure. Tests are based on correlation and regression analysis. We demonstrate the existence of a relationship between innovation and internationalization that can’t be explained by separating them into separate theories.
El presente trabajo analiza las interacciones entre empresas como estrategia de obtención de recu... more El presente trabajo analiza las interacciones entre empresas como estrategia de obtención de recursos estratégicos en Empresas de Base Tecnológica (EBT). Se toma como referencia el modelo de Vohora et al (2004), en donde se plantea que las EBT, para conseguir su desarrollo óptimo deben superar diferentes junturas o transiciones criticas, que existen entre las diversas etapas de su funcionamiento. Las alianzas o interacciones estratégicas constituyen uno de los mecanismos que permiten superar dichas transiciones críticas, ya que posibilitan el acceso a los recursos que son valiosos para las EBTs. A través de las interacciones se puede reducir el costo y el riesgo en el desarrollo de recursos estratégicos. Pero este mecanismo de obtención de recursos supone un riesgo de imitación competitiva importante ya que está asociado a la base de recursos estratégicos en que se sustenta la ventaja competitiva de la empresa, o que inclusive justifica la creación y existencia de la EBT en cuestión. En este sentido, desde la perspectiva teórica, tanto de la ventaja competitiva (teoría de recursos y capacidades) como desde los modelos de creación de EBT, compartir recursos estratégicos podría ser considerado una anomalía, el presente trabajo aborda también el análisis de dicha anomalía. Además se establece de manera ex –ante cual es el perfil de los recursos estratégicos a los que la EBT necesita acceder en sus diferentes fases de madurez.
Many authors have remarked the importance of the Technology Based Firm (TBF) in the last years, i... more Many authors have remarked the importance of the Technology Based Firm (TBF) in the last years, in part due to factors like innovation, production scale, technological change and their flexibility in the production processes to create aggregate value. Instead of these arguments there is not a definition of the technology based sectors, these sectors and their technological level are described in this article. It is also analyzed the returns of scale and the size composition of these technological sectors, where it is shown that the technology based SMEs are as efficient as the large enterprises.
Results presented here are part of a research program that seeks to understand the relationships ... more Results presented here are part of a research program that seeks to understand the relationships between investment in science and technology (S&T) and economic growth at an aggregate level in Latin America and North America, with particular emphasis in the Mexican case. Building on the basis of previous studies at both the micro and the macro level data that have been done in Europe, the United States and Canada, we build an econometric model that seeks to assess the impact of economic country-level investment in S&T on aggregate-level labour productivity measures. Our aim is to contribute evidence for the case that S&T investment (as measured by GERD, or Gross Expenditure in Research and Development) has a quantifiable impact in total factor productivity and particularly on labour productivity for Latin American countries. This relationship has been extensively studied and documented, albeit with ambiguous results in most cases for other regions, but not for Latin America, where it has only received scant attention to date. Our results establish statistically significant relationships in models presented for clustered groups of countries, with a significant effect of lagged variables that is consistent with findings by other authors in the field.
Desarrollo económico de Jalisco. Retrospectiva y retos. pp. 319-348. ISBN: 978-607-96055-0-6 (Versión impresa) ISBN: 978-607-96055-1-3 (Versión digital), Jan 2013
El tejido empresarial de Jalisco se caracteriza por estar constituido fundamentalmente por empres... more El tejido empresarial de Jalisco se caracteriza por estar constituido fundamentalmente por empresas de tamaño micro, pequeño y mediano. Por este motivo, entender la situación que guarda el sector, su dinámica, pautas evolutivas y sobre todo, sus retos estratégicos, es fundamental para entender el desempeño económico del estado y sus potencialidades de desarrollo futuro. Así, este capítulo analiza la evolución del conjunto de la Pequeña y Mediana Empresa (PyME) en México y particularmente en Jalisco a partir de los datos de los Censos Económicos de 1999, 2004 y 2009 y de otras fuentes como el Sistema de Información Empresarial Mexicano (SIEM). Este análisis incluye la distribución de las empresas por sectores y por tamaño, y realiza un comparativo entre las tendencias observadas a nivel nacional y estatal, lo cual permite la identificación de diferencias significativas en el desempeño, así como el establecimiento de los retos que deberán enfrentar las empresas que constituyen el conjunto de la PyME en su proceso de modernización y consolidación.
The aim of this paper is to analyze the relationship between economic and social performance of s... more The aim of this paper is to analyze the relationship between economic and social performance of small and medium enterprises (SMEs) and competitiveness of the regions in which these companies are located. In order to analyze the evolution of the corporate structure in Mexico during the period between 1999 and 2010, indices of economic and social performance were developed. The indices were developed based on the information contained in economic census of 1999 2004 and 2009. The indices include measures at national level and also at the state level. Bordering states were selected for their regional representativeness. The indices obtained were compared with the evolution of these states have had in the ranking of competitiveness calculated by the Mexican Institute for Competitiveness (IMCO). The focus of analysis was at the performance of the Micro, Small and Medium Enterprises (SMEs) because such firms represent about 99% of the business and are the main employer in the country. The results show how each state has pursued a strategy of promoting competitiveness different, but in general terms there is a clear gain in competitiveness the structural reforms that attract large companies is necessary, but also the establishment of policies that promote the creation and improving the performance of SMEs
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El propósito de este trabajo es determinar el impacto de la formación de capital humano (CH) en la inversión extranjera directa (IED) en México, donde se carece de este tipo de estudios. La principal contribución consiste en probar la existencia de una relación no lineal entre CH-IED con datos en panel. El panel fue construido para las 32 entidades federativas en el periodo 2007-2012. Se controló para los estados más grandes (en producto interno bruto [PIB]) y para estados fronterizos con una variable dicotómica. La prueba consistió en una relación no lineal de las matrículas de niveles terciaros y de posgrado sobre la IED con efectos aleatorios. Además, se realizó un análisis de cointegración con las pruebas LL e IPS para validar la relación en el largo plazo. Las implicaciones son importantes para las entidades federativas, en aras de configurar una masa crítica de CH de educación terciaria y posgrado para atraer flujos de IED.
interacciones estratégicas constituyen uno de los mecanismos que permiten superar dichas transiciones críticas, ya que posibilitan el acceso a los recursos que son valiosos para las EBTs. A través de las interacciones se puede reducir el costo y el riesgo en el desarrollo de recursos estratégicos. Pero este mecanismo de obtención de recursos supone un riesgo de imitación competitiva importante ya que está asociado a la base de recursos estratégicos en que se sustenta la ventaja competitiva de la empresa, o que
inclusive justifica la creación y existencia de la EBT en cuestión. En este sentido, desde la perspectiva teórica, tanto de la ventaja competitiva (teoría de recursos y capacidades) como desde los modelos de creación de EBT, compartir recursos estratégicos podría ser considerado una anomalía, el presente trabajo aborda también el análisis de dicha anomalía. Además se establece de manera ex –ante cual es el perfil de los recursos estratégicos a los que la EBT necesita acceder en sus diferentes fases de madurez.
Our aim is to contribute evidence for the case that S&T investment (as measured by GERD, or Gross Expenditure in Research and Development) has a quantifiable impact in total factor productivity and particularly on labour productivity for Latin American countries. This relationship has been extensively studied and documented, albeit with ambiguous results in most cases for other regions, but not for Latin America, where it has only received scant attention to date.
Our results establish statistically significant relationships in models presented for clustered groups of countries, with a significant effect of lagged variables that is consistent with findings by other authors in the field.
El propósito de este trabajo es determinar el impacto de la formación de capital humano (CH) en la inversión extranjera directa (IED) en México, donde se carece de este tipo de estudios. La principal contribución consiste en probar la existencia de una relación no lineal entre CH-IED con datos en panel. El panel fue construido para las 32 entidades federativas en el periodo 2007-2012. Se controló para los estados más grandes (en producto interno bruto [PIB]) y para estados fronterizos con una variable dicotómica. La prueba consistió en una relación no lineal de las matrículas de niveles terciaros y de posgrado sobre la IED con efectos aleatorios. Además, se realizó un análisis de cointegración con las pruebas LL e IPS para validar la relación en el largo plazo. Las implicaciones son importantes para las entidades federativas, en aras de configurar una masa crítica de CH de educación terciaria y posgrado para atraer flujos de IED.
interacciones estratégicas constituyen uno de los mecanismos que permiten superar dichas transiciones críticas, ya que posibilitan el acceso a los recursos que son valiosos para las EBTs. A través de las interacciones se puede reducir el costo y el riesgo en el desarrollo de recursos estratégicos. Pero este mecanismo de obtención de recursos supone un riesgo de imitación competitiva importante ya que está asociado a la base de recursos estratégicos en que se sustenta la ventaja competitiva de la empresa, o que
inclusive justifica la creación y existencia de la EBT en cuestión. En este sentido, desde la perspectiva teórica, tanto de la ventaja competitiva (teoría de recursos y capacidades) como desde los modelos de creación de EBT, compartir recursos estratégicos podría ser considerado una anomalía, el presente trabajo aborda también el análisis de dicha anomalía. Además se establece de manera ex –ante cual es el perfil de los recursos estratégicos a los que la EBT necesita acceder en sus diferentes fases de madurez.
Our aim is to contribute evidence for the case that S&T investment (as measured by GERD, or Gross Expenditure in Research and Development) has a quantifiable impact in total factor productivity and particularly on labour productivity for Latin American countries. This relationship has been extensively studied and documented, albeit with ambiguous results in most cases for other regions, but not for Latin America, where it has only received scant attention to date.
Our results establish statistically significant relationships in models presented for clustered groups of countries, with a significant effect of lagged variables that is consistent with findings by other authors in the field.