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Crescimento econômico secular no Brasil, modelo de thirlwall e termos de troca

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  • de Assis C. Vieira,Fabrício
  • Brito, Marcio Holland de

Abstract

Explaining the Brazilian economic growth performance during the 20th is achallenging task to academics. As shown, Brazil had already experienced faster growthand recently it is far from such belle époque. Most explanation lies on conventionalframeworks. This paper assesses the Thirlwall’s balance-of-payments constraint modelto Brazilian economic growth in the period 1900-2005, highlighting the importance ofthe terms of trade. The results show, first, that the terms of trade are significant in theestimation of import demand function and change the income elasticity, especially inthe first period of the sample (1900-1970), and, second, when the simplest Thirlwall’smodel is controlled by terms of trade, it seems that such variable is important throughexport growth, which cause changes in economic performance.

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Bibliographic Info

Paper provided by Escola de Economia de São Paulo, Getulio Vargas Foundation (Brazil) in its series Textos para discussão with number 206.

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Date of creation: 16 Jun 2010
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Handle: RePEc:fgv:eesptd:206

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Cited by:
  1. Marco Flávio da Cunha Resende & Daniela Almeida Raposo Torres, 2008. "National innovation system, competitiveness and economic growth," Textos para Discussão Cedeplar-UFMG td325, Cedeplar, Universidade Federal de Minas Gerais.

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