Estrategias de crecimiento económico en México y Corea del Sur, un análisis comparativo

Abstract

Economic growth strategies in Mexico and South Korea, a comparative analysis

The goal of the article is to measure and compare how the gross formation of fixed capital, tertiary education and international trade have determined the economic growth of Mexico and South Korea. We estimated a VEC model to identify the long and short-term relationships between the variables (period 1994 to 2018). The results show that South Korea's growth was determined by gross capital formation and tertiary education as stated by endogenous growth theory; while the Mexican economy maintained a slow growth, consequence of capital formation process difficulties. One limitation of this work was measuring the State's participation in the growth process. The originality of the study lies in identifying the short and long-term effects, as well as the inclusion of internal and external variables. We conclude that the response of economic growth is positive and sustained in countries with greater accumulation of capital and quality of labor, where the participation of the state is key.