Template-type: ReDIF-Article 1.0
Author-Name: Lima, Gilberto Tadeu
Author-Name: Carvalho, Veridiana Ramos da Silva
Title: Estrutura produtiva, restrição externa e crescimento econômico: a experiência brasileira
Abstract: Productive structure, external constraint and economic growth: the Brazilian experience - We analyze the sharp drop in the growth rate that has been experienced by the Brazilian economy since the 1980s, using the balance-of-payments-constrained growth approach. Empirical results show that growth in the 1930-2004 period was balance-of-payments-constrained, with terms of trade and capital flows playing quite a minor role in the reaching of external equilibrium. The sharp drop in growth that has experienced since the 1980s, however, can be explained by a tighter external constraint, given the behavior of the terms of trade and capital flows. In the 1990s, on the other hand, a new development strategy made for a structural break in the income elasticity of imports, thus leading to a lower growth rate compatible with balance-of-payments equilibrium.
Classification-JEL: E10; E23; O11.
Keywords: Productive structure; External constraint; Economic growth.
Pages: 30
Volume: 36
Year: 2009
Month: 4
File-URL: https://www.eco.unicamp.br/images/arquivos/artigos/676/02 EconomiaSociedade Artigo2.pdf
File-Format: Application/pdf
Handle: RePEc:euc:ancoec:v:36:y:2009:p:31-60