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New-Structuralist Exchange-Rate Policy and the Pattern of Specialization in Latin American Countries

Author

Listed:
  • Dvoskin, Ariel

    (National University of San Martín)

  • Feldman, Germán David

    (National University of San Martín)

  • Ianni, Guido

    (National University of San Martín)

Abstract

The present article critically examines the transmission channels between the real exchange rate and output growth adduced by the so-called New-Structuralist doctrine. It is shown that the assumptions under which the mechanisms work are highly restrictive, and hence, are generally inadequate to ex-plore the problem of economic development in Latin American peripheral countries. In view of this, the potential risks associated with a policy of devaluation are warned.

Suggested Citation

  • Dvoskin, Ariel & Feldman, Germán David & Ianni, Guido, 2018. "New-Structuralist Exchange-Rate Policy and the Pattern of Specialization in Latin American Countries," Centro Sraffa Working Papers CSWP28, Centro di Ricerche e Documentazione "Piero Sraffa".
    • Handle: RePEc:ris:sraffa:0028
    as

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    References listed on IDEAS

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    Cited by:

    1. Dvoskin, Ariel & Ianni, Guido, 2021. "Produced means of production and the chain of comparative advantages," Structural Change and Economic Dynamics, Elsevier, vol. 59(C), pages 635-647.
    2. Ariel Dvoskin & Gabriel Brondino, 2022. "An appraisal of alternative Ricardian trade models," BCRA Working Paper Series 2022104, Central Bank of Argentina, Economic Research Department.
    3. Sebastian Valdecantos, 2020. "Argentina's (Macroeconomic?) Trap: Some Insights from an Empirical Stock-Flow Consistent Model," Economics Working Paper Archive wp_975, Levy Economics Institute.
    4. Porcile, Gabriel & Sartorello Spinola, Danilo & Yajima, Giuliano, 2020. "Patterns of growth in structuralist models: The role of the real exchange rate and industrial policy," MERIT Working Papers 2020-027, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    5. Porcile, Gabriel & Spinola, Danilo & Yajima, Giuliano, 2021. "Patterns of Growth in Structuralist Models: The Role of PoliticalEconomy," CAFE Working Papers 12, Centre for Accountancy, Finance and Economics (CAFE), Birmingham City Business School, Birmingham City University.
    6. Pedro Elosegui & Máximo Sangiácomo, 2022. "Firm's Price Expectations: An Empirical Analysis using BCRAs' Survey of Business Economic Perspectives," BCRA Working Paper Series 2022103, Central Bank of Argentina, Economic Research Department.

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    More about this item

    Keywords

    Dual economies; Economic growth; New-Structuralism; Pattern of Specialization; Real Exchange Rate;
    All these keywords.

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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