Growth Cycles In Latin America And Developed Countries
AbstractThe Minskyan approach to financial instability and its effects on the real economy have recently been revived in order to explain the exchange rate crises undergone by the so-called emergent economies. Economies of this type are characterized by repeated scarcity of foreign currency, which can be explained by using Neo-Schumpeterian theory. Based on the Minskyan approach and on the Neo-Schumpeterian literature, this study seeks to demonstrate that there is a cyclic recurrence of exchange rate crises in Latin-American (peripheral) economies. By using data on international liquidity, the balance of payments and the increase in production in the G7 economies and in thirteen Latin-American economies, it was found that the Latin-American economies mirror the cycles of international liquidity.
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Bibliographic InfoPaper provided by ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics] in its series Anais do XXXV Encontro Nacional de Economia [Proceedings of the 35th Brazilian Economics Meeting] with number 035.
Date of creation: 2007
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- Adriana Moreira Amado & Marco Flávio da Cunha Resende & Frederico G. Jayme Jr., 2008. "Growth cycles in Latin America and developed countries," Textos para DiscussÃ£o Cedeplar-UFMG td327, Cedeplar, Universidade Federal de Minas Gerais.
- F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
- F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
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