This study analyzes the main macroeconomic variables of twenty Latin American countries; based on the economic behavior and the development that they have in the time interval between 2005 to 2016. The referred macroeconomic variables taken into account are: (i) economic growth, (ii) external debt and (iii) competitiveness. The Pearson correlation coefficients and the multiple linear regression model are used to address the relationship between these three variables; finally, crossed output tables are created, to prove the thesis that as countries grow, their debt increases as does its competitiveness.
