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Movilidad del capital, tasa de interes, tipo de cambio real y crecimiento economico

Author

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  • Enrique R. Casares

    () (Universidad Autonoma Metropolitana-Azcapotzalco)

Abstract

Se desarrolla un modelo de crecimiento endogeno con dos sectores: comerciable y no-comerciable. El sector comerciable es la fuente del conocimiento tecnologico. Los Hogares tienen una restriccion al credito, asi el capital comerciable sirve unicamente como colateral para los prestamos internacionales. Los inversionistas extranjeros perciben un riesgo pais. En el estado estacionario, se muestra que un aumento de la relacion deuda externa a capital comerciable, sin disminucion de la prima de riesgo pais, no afecta el tipo de cambio real. Asi, la tasa de crecimiento de la economia aumenta. Sin embargo, un incremento de la relacion deuda externa a capital comerciable, con disminucion de la prima de riesgo pais, produce una apreciacion del tipo de cambio real. Por lo tanto, el sector comerciable es perjudicado y la tasa de crecimiento de la economia puede aumentar o disminuir, dependiendo del grado de apreciacion.

Suggested Citation

  • Enrique R. Casares, 2011. "Movilidad del capital, tasa de interes, tipo de cambio real y crecimiento economico," EconoQuantum, Revista de Economia y Negocios, Universidad de Guadalajara, Centro Universitario de Ciencias Economico Administrativas, Departamento de Metodos Cuantitativos y Maestria en Economia., vol. 7(2), pages 73-91, Enero - J.
  • Handle: RePEc:qua:journl:v:7:y:2011:i:2:p:73-91
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    More about this item

    Keywords

    sector comerciable; aprendizaje; colateral; deuda externa; riesgo pais; tipo de cambio real; crecimiento.;

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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