Economic growth and the balance-ofpayments constraint: The case of the Spanish regions, 1988-2008
AbstractThe balance of payments can act as a constraint to the rate of growth of output, on putting a limit to the growth in the level of demand to which supply can adapt. This effect might be even stronger for regional economies, presumably more integrated among them. In this paper, we examine this issue for the case of the Spanish regions over the period 1988-2008, and calculate their balance of payments-constrained growth rates. By comparing these balance of payments-constrained growth rates with the actual growth rates, we would be able to assess whether the balance of payments has worked as a constraint to economic growth for the Spanish regional economies in the period analyzed.
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Bibliographic InfoPaper provided by Asociación Española de Economía y Finanzas Internacionales in its series Working Papers with number 11-04.
Length: 12 pages
Date of creation: May 2011
Date of revision:
Economic growth; External deficit; Spanish regions;
Other versions of this item:
- Oscar Bajo-Rubio & Carmen Diaz-Roldan, 2011. "Economic growth and the balance-of-payments constraint: The case of the Spanish regions," ERSA conference papers ersa10p86, European Regional Science Association.
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-05-30 (All new papers)
- NEP-FDG-2011-05-30 (Financial Development & Growth)
- NEP-GEO-2011-05-30 (Economic Geography)
- NEP-OPM-2011-05-30 (Open Economy Macroeconomics)
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