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Keynesian and Schumpeterian efficiency in a BOP-constrained growth model

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  • Eva da Silva Catela
  • Gabriel Porcile

Abstract

The paper aims to contribute to the debate on specialization and growth in two forms. First, it develops a north-south model in which the ratio between the income elasticity of exports and imports in the south (which gives the rate of growth compatible with external equilibrium) depends on the Keynesian and Schumpeterian efficiencies of the pattern of specialization, as defined by Dosi et al. (1990). Second, the model is tested by including the technology gap and proxies for the pattern of specialization (Keynesian and Schumpeterian efficiency) in Keynesian growth regressions. Several estimation procedures are used to test the model, among which is finite mixture estimation, which allows for more robust estimations of the parameters for homogeneous groups of countries.

Suggested Citation

  • Eva da Silva Catela & Gabriel Porcile, 2012. "Keynesian and Schumpeterian efficiency in a BOP-constrained growth model," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 34(4), pages 777-802.
    • Handle: RePEc:mes:postke:v:34:y:2012:i:4:p:777-802
    DOI: 10.2753/PKE0160-3477340408
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    References listed on IDEAS

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    1. Juan Carlos Moreno‐Brid, 2003. "Capital Flows, Interest Payments and the Balance‐of‐Payments Constrained Growth Model: A Theoretical and Empirical Analysis," Metroeconomica, Wiley Blackwell, vol. 54(2‐3), pages 346-365, May.
    2. Luis Bértola & Hermes Higachi & Gabriel Porcile, 2002. "Balance-of-payments-constrained growth in Brazil: a test of Thirlwall's Law, 1890-1973," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 25(1), pages 123-140.
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    Cited by:

    1. Gabriel Porcile & Danilo Sartorello Spinola, 2018. "Natural, Effective and BOP-Constrained Rates of Growth: Adjustment Mechanisms and Closure Equations," PSL Quarterly Review, Economia civile, vol. 71(285), pages 139-160.
    2. Mario Cimoli & Wellington Pereira & Gabriel Porcile & Fábio Scatolin, 2011. "Structural change, technology, and economic growth: Brazil and the CIBS in a comparative perspective," Economic Change and Restructuring, Springer, vol. 44(1), pages 25-47, April.
    3. Marwil J. Dávila-Fernández & Serena Sordi, 2019. "From open economies to attitudes towards change. Growth and institutions in Latin America and Asia," Department of Economics University of Siena 809, Department of Economics, University of Siena.
    4. Dávila-Fernández, Marwil J. & Oreiro, José L. & Dávila Dávila, Mario W., 2018. "Endogenizing non-price competitiveness in a BoPC growth model with capital accumulation," Structural Change and Economic Dynamics, Elsevier, vol. 44(C), pages 77-87.

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    More about this item

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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