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Crescimento da economia brasileira e fluxo de capitais a partir da Lei de Thirlwall:1968-1980 e 1992-2000

Author

Listed:
  • Luciano Nakabashi

    (Cedeplar-UFMG)

  • José Gabriel Porcile Meirelles

    (UFPR)

Abstract

Capital flows are expected to be important in the process of economic growth for several reasons. One of them is their importance in relaxing the balance of payments constraints as envisaged by Thirlwall’s law, which states that when economic growth takes place, the level of imports also grows. Consequently, there is a necessary increase in the export level or in the volume of capital inflows as imposed by the balance of payment constraints. The goal of the present paper is to investigate how capital flows during the periods 1968-1980 and 1992-2000 have stimulated the Brazilian economy by means of Thirlwall’s model and to attempt to explain why Brazilian economic performance in the earlier period was so superior to that in the later period.

Suggested Citation

  • Luciano Nakabashi & José Gabriel Porcile Meirelles, 2004. "Crescimento da economia brasileira e fluxo de capitais a partir da Lei de Thirlwall:1968-1980 e 1992-2000," Textos para Discussão Cedeplar-UFMG td240, Cedeplar, Universidade Federal de Minas Gerais.
    • Handle: RePEc:cdp:texdis:td240
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    File URL: https://www.cedeplar.ufmg.br/pesquisas/td/TD%20240.pdf
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    References listed on IDEAS

    as
    1. Anthony P. Thirlwall, 2011. "The Balance of Payments Constraint as an Explanation of International Growth Rate Differences," PSL Quarterly Review, Economia civile, vol. 64(259), pages 429-438.
    2. J. S. L. McCombie & A. P. Thirlwall, 1994. "Economic Growth and the Balance-of-Payments Constraint," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-23121-8.
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    More about this item

    Keywords

    Thirlwall’s law; capital flows; balance of payment constraint;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • N16 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Latin America; Caribbean
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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