Logo
Munich Personal RePEc Archive

Economic Growth and the Rate of Profit in Colombia 1967-2019: A VAR Time-Series Analysis

Duque Garcia, Carlos Alberto (2021): Economic Growth and the Rate of Profit in Colombia 1967-2019: A VAR Time-Series Analysis.

[img]
Preview
PDF
MPRA_paper_109890.pdf

Download (1MB) | Preview

Abstract

In recent decades there has been a growing literature dealing with the empirical estimation of the rate of profit and other Marxian variables in several countries. Nonetheless, there has been a paucity of econometric research about the impact of those Marxian variables on the growth rate in developing countries. This paper seeks to evaluate the rate of profit and the rate of accumulation as determinants of the growth rate in Colombia during 1967-2019, using a VAR model. We find that both variables are statistically significant and, in concordance with Marxian theory predictions, affect positively the growth rate. We also identify direct impacts of growth rate over the profit rate and the accumulation rate as well as an inverse relationship between these last variables.

Atom RSS 1.0 RSS 2.0

Contact us: mpra@ub.uni-muenchen.de

This repository has been built using EPrints software.

MPRA is a RePEc service hosted by Logo of the University Library LMU Munich.