Invitado: Carlos Alberto Duque García
Ph.D. Student, Economics - Mexico City
This article 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 generalized vector autoregressive (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 the growth rate over the profit rate and the accumulation rate as well as an economic relevant relationship between these latter variables.