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Mobilidade de capitais e crescimento econômico: elementos para uma síntese teórica

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  • Meirelles Filho, Sérgio F.
  • Jayme Jr., Frederico Gonzaga
  • Libânio, Gilberto de Assis

Abstract

Capital mobility and economic growth: towards a theoretical synthesis - This paper aims at exploring theoretically the literature regarding capital flows liberalization and economic growth. Precisely, we intend to analyze the role of capital controls over economic growth. Mainstream literature discard capital controls as an alternative to foster economic growth, although admits, in few situations, temporarily quantitative capital controls to avoid financial crisis. The Keynesian approach to economic growth by means of Kaldorian literature is the key to understanding capital controls as an strategy to warrant growth under balance of payments equilibrium. Conclusions highlight the role of capital controls in helping economic growth.

Suggested Citation

  • Meirelles Filho, Sérgio F. & Jayme Jr., Frederico Gonzaga & Libânio, Gilberto de Assis, 2009. "Mobilidade de capitais e crescimento econômico: elementos para uma síntese teórica," Revista Economia e Sociedade, Instituto de Economia, Universidade Estadual de Campinas (UNICAMP), vol. 38, pages 1-29, December.
    • Handle: RePEc:euc:ancoec:v:38:y:2009:p:439-467
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    More about this item

    Keywords

    Capital controls; Balance of payments; Financial account.;
    All these keywords.

    JEL classification:

    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements

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