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Economic growth and structural change in a multi-sector and multilateral approach to balance-of-payments constrained growths

Author

Listed:
  • Ricardo Azevedo Araújo
  • Mateus Silva de Paiva
  • Júlio Fernando Costa Santos
  • Guilherme Jonas Costa da Silva

Abstract

This study aims to develop a multi-sector and multilateral model of balance-of-payments constrained growth. As a starting point, we adopted the models proposed by Araujo and Lima (2007) and Nell (2003). The paper also presents computer simulations to test how structural changes in the Pasinetti-Kaldor sense affect long-term economic growth. This approach is relevant insofar as it enables the identification of sectors and trading partners that contribute the most to long-term growth, as well as proposing economic and industrial policies that improve trade relations and economic competitiveness. JEL Classification: E12; F43; O41.

Suggested Citation

  • Ricardo Azevedo Araújo & Mateus Silva de Paiva & Júlio Fernando Costa Santos & Guilherme Jonas Costa da Silva, 2017. "Economic growth and structural change in a multi-sector and multilateral approach to balance-of-payments constrained growths," Brazilian Journal of Political Economy, Center of Political Economy, vol. 37(4), pages 894-915.
    • Handle: RePEc:ekm:repojs:v:37:y:2017:i:4:p:894-915:id:165
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    More about this item

    Keywords

    Structural change; balance-of-payments constrained growth; trading partners;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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