<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0121-4772</journal-id>
<journal-title><![CDATA[Cuadernos de Economía]]></journal-title>
<abbrev-journal-title><![CDATA[Cuad. Econ.]]></abbrev-journal-title>
<issn>0121-4772</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional de Colombia]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0121-47722019000100081</article-id>
<article-id pub-id-type="doi">10.15446/cuad.econ.v37n76.59913</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[INSTITUCIONES Y VOLATILIDAD DEL CRECIMIENTO ECONÓMICO: UNA APROXIMACIÓN A AMÉRICA LATINA Y EL CARIBE]]></article-title>
<article-title xml:lang="en"><![CDATA[Institutions and volatility of economic growth: An approach to Latin America and the Caribbean]]></article-title>
<article-title xml:lang="fr"><![CDATA[Institutions et volatilité de la croissance économique: une approche de l&#8217;Amérique latine et des Caraïbes]]></article-title>
<article-title xml:lang="pt"><![CDATA[Instituições e volatilidade do crescimento econômico: uma aproximação à América Latina e o Caribe]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Fernández-Torres]]></surname>
<given-names><![CDATA[Yakira]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Ramajo-Hernández]]></surname>
<given-names><![CDATA[Julián]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Díaz-Casero]]></surname>
<given-names><![CDATA[Juan Carlos]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Facultad de Empresa, Finanzas y Turismo. Departamento de Economía Financiera y Contabilidad  ]]></institution>
<addr-line><![CDATA[Cáceres ]]></addr-line>
<country>España</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Facultad de Ciencias Económicas y Empresariales. Departamento de Economía  ]]></institution>
<addr-line><![CDATA[Badajoz ]]></addr-line>
<country>España</country>
</aff>
<aff id="Af3">
<institution><![CDATA[,Facultad de Empresa, Finanzas y Turismo. Departamento de Dirección de Empresas y Sociología.  ]]></institution>
<addr-line><![CDATA[Cáceres ]]></addr-line>
<country>España</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2019</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2019</year>
</pub-date>
<volume>38</volume>
<numero>76</numero>
<fpage>81</fpage>
<lpage>108</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S0121-47722019000100081&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S0121-47722019000100081&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S0121-47722019000100081&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El objetivo de este trabajo es ofrecer una explicación institucional a la acentuada volatilidad del crecimiento económico de América Latina y el Caribe, dada su persistencia en el tiempo y las consecuencias dramáticas en términos de pobreza para la región. La aportación consiste en realizar el primer análisis para 28 países durante 2002-2010, mediante un modelo estático de corte transversal por mínimos cuadrados en dos etapas. Los resultados avalan el impacto sustancial de las instituciones en la reducción de la volatilidad, fundamentalmente las de naturaleza política, y ofrecen indicios de la necesidad de utilización de criterios de homogeneización muestral. JEL: E02, N16, N26, O43.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract The aim of this paper is to provide an institutional explanation for the sharp volatility of economic growth in Latin America and the Caribbean, given its persistence over time and the dramatic consequences in terms of poverty for the region. The contribution is to conduct the first analysis for 28 countries during 2002-2010, using a static model of cross section by two-stage least squares. The results support the substantial impact of institutions on reducing volatility, primarily political in nature, and provide evidence of the need for use of sampling criteria homogenization. JEL: E02, N16, N26, O43.]]></p></abstract>
<abstract abstract-type="short" xml:lang="fr"><p><![CDATA[Résumé L&#8217;objectif de ce travail est d&#8217;offrir une explication institutionnelle à la volatilité accentuée de la croissance économique d&#8217;Amérique latine et des Caraïbes, étant donnée sa persistance dans le temps et les conséquences spectaculaires en termes de pauvreté dans la région. Notre apport consiste à réaliser la première analyse pour 28 pays pour la période 2002-2010, avec un modèle statique de type transversal de moindres carrés en deux étapes. Les résultats avalisent l&#8217;impact substantiel des institutions dans la réduction de la volatilité, fondamentalement celles de nature politique, et offrent des indices du besoin de l&#8217;utilisation de critères d&#8217;échantillons d&#8217;homogénéisation. JEL: E02, N16, N26, O43.]]></p></abstract>
<abstract abstract-type="short" xml:lang="pt"><p><![CDATA[Resumo O objetivo de este trabalho é oferecer uma explicação institucional à acentuada volatilidade do crescimento econômico da América Latina e o Caribe, devido a sua persistência no tempo e as consequências dramáticas em termos de pobreza para a região. A contribuição consiste em realizar a primeira análise para 28 países durante 2002-2010, por meio de um modelo estático de corte transversal por mínimos quadrados em duas etapas. Os resultados alavancam o impacto substancial das instituições na redução da volatilidade, fundamentalmente as de natureza política, e oferecem indícios da necessidade de utilização de critérios de homogeneização de amostragem. JEL: E02, N16, N26, O43.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[instituciones]]></kwd>
<kwd lng="es"><![CDATA[calidad institucional]]></kwd>
<kwd lng="es"><![CDATA[volatilidad]]></kwd>
<kwd lng="es"><![CDATA[crecimiento económico]]></kwd>
<kwd lng="es"><![CDATA[América Latina y el Caribe.]]></kwd>
<kwd lng="en"><![CDATA[institutions]]></kwd>
<kwd lng="en"><![CDATA[institutional quality]]></kwd>
<kwd lng="en"><![CDATA[volatility]]></kwd>
<kwd lng="en"><![CDATA[economic growth]]></kwd>
<kwd lng="en"><![CDATA[Latin America and the Caribbean.]]></kwd>
<kwd lng="fr"><![CDATA[institutions]]></kwd>
<kwd lng="fr"><![CDATA[qualité institutionnelle]]></kwd>
<kwd lng="fr"><![CDATA[volatilité]]></kwd>
<kwd lng="fr"><![CDATA[croissance économique]]></kwd>
<kwd lng="fr"><![CDATA[Amérique latine et Caraïbes.]]></kwd>
<kwd lng="pt"><![CDATA[instituições]]></kwd>
<kwd lng="pt"><![CDATA[qualidade institucional]]></kwd>
<kwd lng="pt"><![CDATA[volatilidade]]></kwd>
<kwd lng="pt"><![CDATA[crescimento econômico]]></kwd>
<kwd lng="pt"><![CDATA[América Latina e o Caribe.]]></kwd>
</kwd-group>
</article-meta>
</front><back>
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