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Technology, structural change and BOP-constrained growth: a structuralist toolbox

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  • Mario Cimoli
  • Gabriel Porcile

Abstract

Latin American structuralism (LAS) is a significant part of the heterodox tradition in the theory of long-term growth, with a focus on the problems of developing economies that started their industrialisation process when other regions had already accumulated substantial technological capabilities. The emergence of a centre–periphery system posed specific problems to growth and distribution in laggard economies, which LAS discusses in a systematic way. In this paper we present a model that, first, captures key insights of the LAS school, such as the persistency of technological asymmetries and structural heterogeneity; second, it can be used to analyse the impacts of shocks and policies based on how they affect the supply-side and demand-side parameters of the model; third, it links more closely (post-)Keynesian macroeconomics based on the BOP constraint with the evolutionary microeconomics concerned with the dynamics of learning; last, it can be used as a toolbox and a teachable model in the analysis of interactions between structural change, technological catching up and long-term growth.

Suggested Citation

  • Mario Cimoli & Gabriel Porcile, 2014. "Technology, structural change and BOP-constrained growth: a structuralist toolbox," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 38(1), pages 215-237.
    • Handle: RePEc:oup:cambje:v:38:y:2014:i:1:p:215-237.
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    File URL: http://hdl.handle.net/10.1093/cje/bet020
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    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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