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Economic growth, international trade and debt: A model to understand developed and non-developed countries

Author

Listed:
  • Ariel Bernardo Ibañez Choque

    (Banco Central de Bolivia)

Abstract

Este artículo tiene el objetivo de mostrar el desempeño externo de la relación entre países desarrollados y no desarrollados en el comercio internacional. En particular, se enfoca en los efectos de la deuda externa y la tasa de interés en la tasa de crecimiento económico. Anteriores investigaciones no han estudiado suficientemente ciertas economías superavitarias netas en balanza comercial y su relación comercial con las economías deficitarias. La innovación de este artículo es un nuevo sistema analítico para explicar la tasa de crecimiento económico en una economía mundial hipotética con dos países asimétricos en su balanza de pagos y en sus estructuras económicas. Los resultados de este sistema muestran cuatro mecanismos de dependencia entre países desarrollados y no desarrollados en el comercio internacional: “términos de intercambio”, “relación de intercambio”, “deuda e intereses” y “estructura económica”. Por lo general, estos mecanismos favorecen el desempeño de largo plazo de las economías desarrolladas, pero castigan a las economías no desarrolladas. Luego, la liberalización del comercio, contrariamente al consenso dominante, no es suficiente para garantizar el crecimiento económico de las economías no industrializadas.

Suggested Citation

  • Ariel Bernardo Ibañez Choque, 2019. "Economic growth, international trade and debt: A model to understand developed and non-developed countries," Revista de Análisis del BCB, Banco Central de Bolivia, vol. 30(1), pages 53-83, January -.
    • Handle: RePEc:blv:journl:v:30:y:2019:i:1:p:53-83
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    More about this item

    Keywords

    Crecimiento económico; comercio internacional; deuda externa; dependencia; industrialización;
    All these keywords.

    JEL classification:

    • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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