Technology, capital flows and the balance of payments constraint in a structuralist north-south model
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structuralist macroeconomic models, balance-of-payments-constrained growthResumo
This paper presents a North-South model which combines a demand curve for foreign exchange, based on the Keynesian Balance-of-Payments-constrained-growth theory, and a supply curve, based on the principle of increasing risks, which is nonlinear on the interest rate. The dynamics of the model describes a situation of external fragility in economies facing problems of international competitiveness, in which external desequilibrium recurrently puts a downward pressure on the rate of growth and favors exchange rate devaluation in Southern economies.Downloads
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2019-11-07
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Todo conteúdo é publicado sob a licença Creative Commons do tipo CC-BY, exceto quando especificado.
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Todo el contenido se publica bajo una licencia Creative Commons CC-BY, salvo que se indique lo contrario.
Todo el contenido se publica bajo una licencia Creative Commons CC-BY, salvo que se indique lo contrario.
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All journal content, except where identified, is licensed under a Creative Commons attribution-type CC-BY.