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Income distribution and the balance of payments: a formal reconstruction of some Argentinian structuralist contributions- Part I: Technical dependency

Author

Listed:
  • Ariel Dvoskin

    (CONICET–CEED/IDAES, Ciudad Autónoma de Buenos Aires, Argentina)

  • Germán David Feldman

    (CEED/IDAES, Ciudad Autónoma de Buenos Aires, Argentina)

Abstract

In this two-part paper, we explore the interaction between income distribution and the balance of payments, by assessing the contributions of three Argentinian exponents of the Latin American Structuralist School: Oscar Braun, Marcelo Diamand and Adolfo Canitrot. With this aim, we introduce a two-sector model inspired by the classical tradition. Part I of the article examines the implications for prices and quantities of the phenomenon of 'technical dependency'. That is, the inelastic demand for imported inputs observed in peripheral economies, a true constraint to growth during the Bretton Woods era. We leave until Part II of the paper the assessment of the implications of 'financial dependency', namely the influence exerted on the profit rate of peripheral economies by the international profit rate.

Suggested Citation

  • Ariel Dvoskin & Germán David Feldman, 2018. "Income distribution and the balance of payments: a formal reconstruction of some Argentinian structuralist contributions- Part I: Technical dependency," Review of Keynesian Economics, Edward Elgar Publishing, vol. 6(3), pages 352-368, July.
    • Handle: RePEc:elg:rokejn:v:6:y:2018:i:3:p352-368
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    Citations

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    Cited by:

    1. Machado, Pedro S. & Trigg, Andrew B., 2021. "On absolute and comparative advantage in international trade: A Pasinetti pure labour approach," Structural Change and Economic Dynamics, Elsevier, vol. 59(C), pages 375-383.
    2. Montes Rojas Gabriel & Dvoskin Ariel & Feldman Germán, 2023. "Exchange-Rate Regime And Sectorial Profitability In A Small Open Economy: A Theoretical And Empirical Analysis Of Argentina (2016-2023)," Asociación Argentina de Economía Política: Working Papers 4673, Asociación Argentina de Economía Política.
    3. Dvoskin, Ariel & Torchinsky Landau, Matías, 2023. "Income distribution and economic cycles in an open-economy supermultiplier model," Structural Change and Economic Dynamics, Elsevier, vol. 64(C), pages 273-291.
    4. Ariel Dvoskin & Gabriel Brondino, 2022. "An appraisal of alternative Ricardian trade models," BCRA Working Paper Series 2022104, Central Bank of Argentina, Economic Research Department.
    5. Ariel Dvoskin & Germán David Feldman & Guido Ianni, 2020. "New‐structuralist exchange‐rate policy and the pattern of specialization in Latin American countries," Metroeconomica, Wiley Blackwell, vol. 71(1), pages 22-48, February.
    6. Miguel Angel Pesce & Germán Feldman, 2023. "Monetary policy challenges over two decades: a view from Argentina," BIS Papers chapters, in: Bank for International Settlements (ed.), Central banking in the Americas: Lessons from two decades, volume 127, pages 21-39, Bank for International Settlements.

    More about this item

    Keywords

    balance of payments; income distribution; Latin American structuralism; stop-and-go cycles; technical dependency;
    All these keywords.

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles

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