Economic growth and the balance-of-payments constraint: The case of the Spanish regions
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 acted as a constraint to economic growth for the Spanish regional economies in the period analyzed.
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Bibliographic InfoPaper provided by European Regional Science Association in its series ERSA conference papers with number ersa10p86.
Date of creation: Sep 2011
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- Oscar Bajo-Rubio & Carmen Díaz-Roldán, 2011. "Economic growth and the balance-ofpayments constraint: The case of the Spanish regions, 1988-2008," Working Papers, AsociaciÃ³n EspaÃ±ola de EconomÃa y Finanzas Internacionales 11-04, Asociación Española de Economía y Finanzas Internacionales.
- 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
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