Crecimiento, demanda y exportaciones en la economía uruguaya 1960-2000
This paper analyses the relation between economic growth and external demand in Uruguay during 1960-2000. Following Thirlwall’s post-Keynesian theoretical approach, which is based on Harrod’s foreign trade vision and Kaldor’s “demand oriented” theories, we study the effects on the output growth rate that external demand can generated in the long run, including balance-of-payments constraint. Empirical evidence about some relevant variables are presented. Different econometric tests are applied to study the existence of long run relation between output and exports and to estimate elasticities of demand for import and export. The role of balance-of-payments constraint and the relevance of Harrod foreign trade multiplier in the adjustment process of external unbalanced are considered. We conclude that there is empirical evidence to support Thirlwall’s law, which suggests a balance-of-payments constraint to output growth in the long run, although there is not possible to rule out “supply-side” constrains.
|Date of creation:||Dec 2002|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: (598) 2410-6449
Fax: (598) 2410-6450
Web page: http://www.fcs.edu.uy/subcategoria.php?SubCatId=48&CatId=53Email:
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:ude:wpaper:1102. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Irene Musio)or (Héctor Pastori)
If references are entirely missing, you can add them using this form.