Estrutura produtiva, restrição externa e crescimento econômico: a experiência brasileira
AbstractProductive structure, external constraint and economic growth: the Brazilian experience - We analyze the sharp drop in the growth rate that has been experienced by the Brazilian economy since the 1980s, using the balance-of-payments-constrained growth approach. Empirical results show that growth in the 1930-2004 period was balance-of-payments-constrained, with terms of trade and capital flows playing quite a minor role in the reaching of external equilibrium. The sharp drop in growth that has experienced since the 1980s, however, can be explained by a tighter external constraint, given the behavior of the terms of trade and capital flows. In the 1990s, on the other hand, a new development strategy made for a structural break in the income elasticity of imports, thus leading to a lower growth rate compatible with balance-of-payments equilibrium.
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Bibliographic InfoArticle provided by Instituto de Economia, Universidade Estadual de Campinas (UNICAMP) in its journal Revista Economia e Sociedade.
Volume (Year): 36 (2009)
Issue (Month): (April)
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Productive structure; External constraint; Economic growth.;
Find related papers by JEL classification:
- E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
- E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
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- João Prates Romero & Fabrício Silveira & Gustavo Britto, 2011. "Structural change, National Innovation System and balance-of-payments contraint: a theoretical and empirical analysis of the Brazilian case," Textos para DiscussÃ£o Cedeplar-UFMG 440, Cedeplar, Universidade Federal de Minas Gerais.
- Raphael Rocha Gouvea & Gilberto Tadeu Lima, 2010.
"Structural change, balance-of-payments constraint, and economic growth: evidence from the multisectoral Thirlwall's law,"
Journal of Post Keynesian Economics,
M.E. Sharpe, Inc., vol. 33(1), pages 169-204, October.
- Raphael Rocha Gouvêa & Gilberto Tadeu Lima, 2011. "Structural Change,Balance-of-Payments Constraint and Economic Growth: Evidence from the Multi-Sectoral Thirlwall’s Law," Anais do XXXVII Encontro Nacional de Economia [Proceedings of the 37th Brazilian Economics Meeting] 74, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
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