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Crescimento econômico e liquidez externa no Brasil após 1970


  • Vieira, Fabrício de Assis C.
  • Brito, Márcio Holland de


This paper assesses the relationship between the capital account and the Brazilian economic growth according to balance-of-payments constraint approach. The Thirlwall (1979)´s simple rule is extended to take into consideration capital account and several empirical evidence using time series analysis are shown. Conversely to the simple rule when fitted rates of balance-of-payment equilibrium economic growth average bellow the observed ones, fitted rates of growth using the rule extended to international liquidity are consistently greater than the observed ones. It is fair to conclude that, first, the Brazilian economy grows better during abundant international liquidity and, second, the economy sub utilizes such advantage growing far less than it could grow.

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  • Vieira, Fabrício de Assis C. & Brito, Márcio Holland de, 2010. "Crescimento econômico e liquidez externa no Brasil após 1970," Textos para discussão 205, FGV/EESP - Escola de Economia de São Paulo, Getulio Vargas Foundation (Brazil).
  • Handle: RePEc:fgv:eesptd:205

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    Cited by:

    1. Fernanda Ferreira Fernandes Fávaro & Guilherme Jonas Costa Da Silva & Lívia Abrão Steagall Pirtouscheg, 2016. "Bureaucracy, External Trade And Long-Term Growth In A Balance-Of-Payments Constrained Growth Model," Anais do XLIII Encontro Nacional de Economia [Proceedings of the 43rd Brazilian Economics Meeting] 113, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].

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