1,721,036 research outputs found
New structuralism and the balance-of-payments constraint
Full text linkStructuralists and Post-Keynesians share the perspective that in the long run economic growth is shaped by the income elasticity of exports and imports, and that such elasticities are a positive function of the degree of diversification and technological intensity of the pattern of specialization. Since the mid 1970s, New Structuralists began to stress the role of two sets of variables in driving the pattern of specialization: A stable and competitive real exchange rate, and the relative intensity of innovation and diffusion of technology in the center and periphery. In this paper we modify the balance-of-payments-constrained growth model to include these two sets of variables. The model provides a mechanism that ensures the validity of the original Thirlwall perspective, namely that adjustment to the balance- of-payments-constrained equilibrium takes place through changes in the rate of growth of aggregate demand rather than through changes in relative prices. In addition, it shows that a macroeconomic policy aimed at sustaining a competitive real exchange rate is a necessary complement to an active industrial policy for fostering international convergence
Especialización, tecnología y crecimiento en el modelo Ricardiano
No full textEn este artículo se propone un modelo Norte-Sur que permite estudiar cómo los cambios en la brecha tecnológica afectan la especialización y el crecimiento en la economía del Sur. La contribución del artículo consiste en proponer una nueva especificación para la influencia de la brecha sobre la especialización. Además, se discuten las implicaciones de la dinámica de la brecha para el análisis de los procesos de convergencia y divergencia internacionales, en el marco de un modelo ricardiano de comercio con un continuo de bienes. Posteriormente, se testean las predicciones del modelo por medio de un análisis de panel de los determinantes del crecimiento económico en los años noventa. Para ello, se utilizan en el trabajo empírico indicadores recientemente propuestos por la literatura, tanto para la variable tecnológica (la dimensión schumpeteriana del modelo) como para la que refleja el dinamismo del patrón de especialización (dimensión keynesiana)
Specialization, wage bargaining and technology in a multigoods growth model
No full textThe paper develops the Ricardian multigoods model in several directions with a view to\ud
studying the relationship between the technology gap, the pattern of specialization and the\ud
institutional framework structuring technological learning and wage bargaining. The\ud
international economy is formed by two countries, North and South, being the North the\ud
technological leader. The evolution of the North-South technology gap depends on the\ud
initial level of the gap (representing the potential for imitation in the South) and the degree\ud
of diversification of the economic structure of the South (that gives rise to technological\ud
externalities). The National System of Innovation defines the extent with which\ud
technological opportunities related to the gap and to the productive structure are effectively\ud
seized upon in the South. In turn, the parameters affecting the South-North relative wage\ud
respond to the bargaining power of labor unions. The interaction between the technology\ud
gap and relative real wages endogenously defines the number and technological intensity of\ud
the goods produced in the North vis-à-vis those produced in the South, i.e. the pattern of\ud
specialization. The latter is related to the relative rate of economic growth through the\ud
Balance-of-Payments constraint. Finally, exercises of comparative dynamics are produced\ud
with a view to analyzing how growth and distribution respond to policy changes affecting\ud
the National System of Innovation and the conditions of wage bargainin
Tecnología, diversificación productiva y crecimiento: un modelo estructuralista
No full textEl objetivo de este artículo es presentar un marco teórico formal donde los temas de tecnología, estructura productiva y convergencia internacional puedan ser analizados de una forma articulada desde la perspectiva estructuralista. Los elementos distintivos de dicha perspectiva surgen de combinar la teoría keynesiana del crecimiento impulsado por la demanda, basada en las elasticidades ingreso de la demanda de exportaciones e importaciones, con el estudio de los factores que definen las elasticidades en el largo plazo. Las mismas están asociadas a la evolución de la brecha tecnológica en el tiempo y a cómo interactúa con la estructura productiva. El modelo toma como punto de partida una economía internacional de dos países, Norte y Sur (o centro y periferia, respectivamente), con fuertes asimetrías tecnológicas y productivas, y analiza en qué condiciones dichas asimetrías tienden a reproducirse y a generar divergencia en los niveles de ingreso por habitante
Sources of learning paths and technological capabilities: an introductory roadmap of development processes
No full textThis paper aims at building bridges between evolutionary microeconomics and the structuralist theory of economic development, trying to combine both approaches in a systematic way. It is suggested that reducing the technology gap requires persistent supply side efforts for adapting and improving the use of capital equipment and the sequential development of various forms of tacit and incremental learning, associated with the transfer and acquisition of foreign technology. In addition, the expansion of employment along with labour productivity is related to the diversification of the economy, the expansion of high-tech activities and exports and the consequent dynamism of domestic and international demand. The paper argues that technological and industrial policies should take into consideration both dimensions of the development process.innovation, technological learning, technology gap, technological and industrial policies,
Finance-led premature de-industrialization and the role of external macroprudential policy for post-COVID-19 transformative development: Latin America in a comparative perspective
No full textStructural Change and the BOT constraint: why did Latin America fail to converge?
No full textThis paper discusses why Latin America failed to achieve sustainable convergence with the developed world since 1960 and analyses different phases of convergence and divergence using a structuralist-Keynesian approach. First, it is argued that there are critical differences between Latin America, the developed economies and the Asian economies as regards the evolution of the income elasticity of the demand for imports (p), the rate of growth of exports and the balance-of-paymentsconstrained rate of growth. The income elasticity of the demand for imports in
Latin America showed an upward trend, particularly after the mid-1970s, which was not matched by a similar increase in exports—a pattern in sharp contrast with that of the East Asian countries. The evolution of p and exports are used to set forth a typology of Latin American economic growth since 1960. In addition, the paper relates elasticities and the less favourable Latin American performance to the intensity and direction of structural change. Using a broad sample of developed and developing economies, it is shown that the developing countries that succeed in
reducing the income gap are those that transformed their economic structures in favour of sectors with higher Schumpeterian and Keynesian efficiency
Lo spessore del concetto di superficie produttiva
No full textDal retaggio del movimento moderno, l’accento su forma, tecnica e funzione ha dominato la rappresentazione della superficie nelle discipline architettoniche e del paesaggio. Il saggio descrive l’evoluzione del concetto di superficie produttiva nel XX secolo, stabilendo riferimenti, ruoli e caratteristiche che oggi ne definiscono un’innovazione del suo concetto
Combination chemotherapy with vinblastine, bleomycin and methotrexate in DTIC-resistant metastatic melanoma.
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