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Educação, investimentos externos e crescimento econômico: evidências empiricas

Listed author(s):
  • Gustavo Gonzaga

    ()

    (Department of Economics PUC-Rio)

Using a sensible permanent/transitory decomposition of private output, consumption, and gross investment, we calculate potential output for the Brazilian economy and show that permanent shocks explain almost 100% of the variation of private GDP. We then investigate if potential output has a long-run relationship with the number of years of schooling of the Brazilian labor force, the illiteracy rate of Brazilian labor force, and with direct foreign investment in Brazil. In all three cases we found non-trivial long-run elasticities. Examining the exogeneity status of these variables, jointly with potential output, shows that the latter is strongly exogenous in the sense of Engle, Hendry, and Richard (1983). Policy issues are then discussed.

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File URL: http://www.econ.puc-rio.br/pdf/TD348.pdf
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Paper provided by Department of Economics PUC-Rio (Brazil) in its series Textos para discussão with number 348.

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Length: 23 pages
Date of creation: Dec 1995
Handle: RePEc:rio:texdis:348
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