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Can growth be wage-led in small open developing economies?

Author

Listed:
  • Jaime Ros

    (National Autonomous University of Mexico (UNAM), Mexico City, Mexico and University of Notre Dame, IN, USA)

Abstract

This paper investigates the conditions under which wage-led and profit-led growth can take place in a small open developing economy. It presents a model in which three sectors coexist: a capital-intensive tradables sector, a capital-intensive modern non-tradables sector and a labor-intensive traditional or non-capitalist sector producing non-tradable services. The analysis highlights the role and importance of the modern non-tradables sector in the economy (banking and insurance, construction, water, gas, electricity, transport, and communications), showing to what extent the presence of this sector modifies the conditions for wage-led and profit-led growth.

Suggested Citation

  • Jaime Ros, 2016. "Can growth be wage-led in small open developing economies?," Review of Keynesian Economics, Edward Elgar Publishing, vol. 4(4), pages 450-457, October.
    • Handle: RePEc:elg:rokejn:v:4:y:2016:i:4:p450-457
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    Citations

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    Cited by:

    1. Adam Aboobaker, 2022. "Macroeconomic Determinants of South Africa's Post-Apartheid Income Distribution," World Inequality Lab Working Papers halshs-03693225, HAL.
    2. Adam Aboobaker, 2022. "Macroeconomic Determinants of South Africa's Post-Apartheid Income Distribution," Working Papers halshs-03693225, HAL.

    More about this item

    Keywords

    small open economy; growth and distribution; tradables and non-tradables sector;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E26 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Informal Economy; Underground Economy

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