Growth cycles in Latin America and developed countries
The Minskyan approach to financial instability and its effects on the real economy have recently been revived in order to explain the exchange rate crises undergone by the so-called emergent economies. Economies of this type are characterized by repeated scarcity of foreign currency, which can be explained by using Neo-Schumpeterian theory. Based on the Minskyan approach and on the Neo-Schumpeterian literature, this study seeks to demonstrate that there is a cyclic recurrence of exchange rate crises in Latin-American (peripheral) economies. By using data on international liquidity, the balance of payments and the increase in production in the G7 economies and in thirteen Latin-American economies, it was found that the Latin-American economies mirror the cycles of international liquidity.
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- repec:fgv:epgrbe:v:50:n:2:a:4 is not listed on IDEAS
- Frederico Gonzaga Jayme Junior, 2001. "Balance-of-payments constrained economic growth in Brazil," Textos para Discussão Cedeplar-UFMG td155, Cedeplar, Universidade Federal de Minas Gerais.
- Marco Crocco, 2000.
"The concept of degrees of uncertainty in Keynes, Shackle and Davidson,"
Textos para Discussão Cedeplar-UFMG
td147, Cedeplar, Universidade Federal de Minas Gerais.
- Marco Crocco, 2002. "The concept of degrees of uncertainty in Keynes, Shackle, and Davidson," Nova Economia, Economics Department, Universidade Federal de Minas Gerais (Brazil), vol. 12(2), pages 11-28, July-Dece.
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- Julio López G. & Alberto Cruz B., 2000. ""Thirlwall's Law" and beyond: The Latin American Experience," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 22(3), pages 477-495, April.
- Marco Flávio da Cunha Resende & Adriana Amado, 2004.
"Liquidez internacional e ciclo reflexo: algumas observações para a América Latina,"
Textos para Discussão Cedeplar-UFMG
td245, Cedeplar, Universidade Federal de Minas Gerais.
- Adriana Moreira Amado & Marco Flávio da Cunha Resende, 2005. "Liquidez Internacional E Ciclo Reflexo: Algumas Observações Para A América Latina," Anais do XXXIII Encontro Nacional de Economia [Proceedings of the 33th Brazilian Economics Meeting] 070, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
- Taylor, Lance & O'Connell, Stephen A, 1985. "A Minsky Crisis," The Quarterly Journal of Economics, MIT Press, vol. 100(5), pages 871-85, Supp..
- Fagerberg, Jan, 1994. "Technology and International Differences in Growth Rates," Journal of Economic Literature, American Economic Association, vol. 32(3), pages 1147-75, September.
- Ffrench-Davis, Ricardo, 2002. "Financial Crises and National Policy Issues: An Overview," Working Paper Series UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
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