Resumo

MENDOZA GONZALEZ, Miguel Ángel. External resources, volatility and economic growth in Latin American countries, 1990-2015. Cuad. Econ. [online]. 2022, vol.41, n.86, pp.77-108.  Epub 28-Set-2022. ISSN 0121-4772.  https://doi.org/10.15446/cuad.econ.v41n86.83896.

The effects of external resources for oil exports, direct foreign investment and remittances on the volatility and economic growth in Latin American countries in the period 1990-2015 were analysed. For this purpose, ARCH, TARCH and GARCH models were used to measure volatility and panel-VAR models to analyse the link between volatility and economic growth. Granger's causality tests show conditioned partial endogeneity between volatility and economic growth, while the dynamic multipliers of the random shock simulations indicate that oil exports have positive effects on volatility and economic growth, direct foreign investment fosters economic growth without affecting economic volatility, while remittances reduce economic volatility but at the cost of lower economic growth.

Palavras-chave : Latin America; GARCH; panel-VAR; external resources; TARCH; volatility-economic growth.

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