Economic growth and structural change in a multi-sector and multilateral approach to balance-of-payments constrained growths

Vol. 37 No. 4 (2017)

Oct-Dec / 2017
Published February 26, 2020
PDF-English
PDF-English

How to Cite

Azevedo Araújo, Ricardo, Mateus Silva de Paiva, Júlio Fernando Costa Santos, and Guilherme Jonas Costa da Silva. 2017. “Economic Growth and Structural Change in a Multi-Sector and Multilateral Approach to Balance-of-Payments Constrained Growths”. Brazilian Journal of Political Economy 37 (4):894-915. https://doi.org/10.1590/0101-31572017v37n04a13.

Economic growth and structural change in a multi-sector and multilateral approach to balance-of-payments constrained growths

Ricardo Azevedo Araújo
Associate Professor of Economics at the Universidade de Brasilia (UnB).
Mateus Silva de Paiva
Assistant Professor of Economics at Universidade Católica de Brasilia (UCB ).
Júlio Fernando Costa Santos
Ph.D. Student in Economics at the Universidade Federal de Uberlândia (UFU).
Guilherme Jonas Costa da Silva
Associate Professor at the Universidade Federal de Uberlândia (UFU).
Brazilian Journal of Political Economy, Vol. 37 No. 4 (2017), Oct-Dec / 2017, Pages 894-915

Abstract

This study aims to develop a multi-sector and multilateral model of balance-of-payments constrained growth. As a starting point, we adopted the models proposed by Araujo and Lima (2007) and Nell (2003). The paper also presents computer simulations to test how structural changes in the Pasinetti-Kaldor sense affect long-term economic growth. This approach is relevant insofar as it enables the identification of sectors and trading partners that contribute the most to long-term growth, as well as proposing economic and industrial policies that improve trade relations and economic competitiveness.

JEL Classification: E12; F43; O41.


Keywords: Structural change balance-of-payments constrained growth trading partners