ECONOMIC GROWTH AND THE BALANCE-OF-PAYMENTS CONSTRAINT IN LATIN AMERICA AND CARIBBEAN: A PANEL DATA ANALYSIS

Detalhes bibliográficos
Autor(a) principal: Martini, Ricardo Agostini
Data de Publicação: 2011
Tipo de documento: Artigo
Idioma: por
Título da fonte: Análise Econômica (Online)
Texto Completo: https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/9413
Resumo: The main focus of this paper is to assess the relationship between international trade and economic growth in Latin America and the Caribbean for the period 1980-2005. We use panel data models to test Thirlwall’s law. Our results show that a growth rate of about 3% per year is compatible with foreign trade equilibrium. Although this rate is above the average growth observed in the period, it is not sufficient to allow the countries in the region to overcome its current stage of socio-economical underdevelopment. We also show that despite the stability of the income-elasticity of imports in the last decades, there has been an autonomous rise in the demand for imports in the region from the 1990s onwards.
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spelling ECONOMIC GROWTH AND THE BALANCE-OF-PAYMENTS CONSTRAINT IN LATIN AMERICA AND CARIBBEAN: A PANEL DATA ANALYSISCRESCIMENTO ECONÔMICO E RESTRIÇÕES EXTERNAS NA AMÉRICA LATINA E CARIBE: UMA ANÁLISE BASEADA EM DADOS EM PAINELLei de ThirlwallMacroeconomia abertaModelos de dados em painelAmérica Latina.Macroeconomia AplicadaEconomia InternacionalThirlwall’s LawOpen macroeconomicsPanel data modelsLatin America.C23E12F43O54.The main focus of this paper is to assess the relationship between international trade and economic growth in Latin America and the Caribbean for the period 1980-2005. We use panel data models to test Thirlwall’s law. Our results show that a growth rate of about 3% per year is compatible with foreign trade equilibrium. Although this rate is above the average growth observed in the period, it is not sufficient to allow the countries in the region to overcome its current stage of socio-economical underdevelopment. We also show that despite the stability of the income-elasticity of imports in the last decades, there has been an autonomous rise in the demand for imports in the region from the 1990s onwards.O presente estudo tem o objetivo de verificar empiricamente a relação entre o comércio internacional e o crescimento econômico da América Latina e do Caribe no período recente, sob a ótica do modelo de Thirlwall. Ao contrário da literatura tradicional sobre o assunto, que realiza estimações pelo método de mínimos quadrados empilhados, aqui procura-se testar técnicas para dados em painel, como forma de se controlar a heterogeneidade das economias de cada país da região. Os resultados empíricos, além de ressaltar o melhor ajuste dos modelos de painel aos dados, mostram que, embora a elasticidade-renda das importações tenha se comportado estavelmente nas últimas décadas, houve uma tendência autônoma de elevação da demanda por importações na região. E ainda, a taxa de crescimento da América Latina e Caribe compatível com equilíbrio na balança comercial apenas beira os 3% anuais, taxa que se considera excessivamente baixa para que os seus países possam superar suas condições de subdesenvolvimento.UFRGS2011-03-15info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/941310.22456/2176-5456.9413Análise Econômica; Vol. 28 No. 54 (2010): setembro de 2010Análise Econômica; v. 28 n. 54 (2010): setembro de 20102176-54560102-9924reponame:Análise Econômica (Online)instname:Universidade Federal do Rio Grande do Sul (UFRGS)instacron:UFRGSporhttps://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/9413/11056Copyright (c) 2019 Análise Econômicainfo:eu-repo/semantics/openAccessMartini, Ricardo Agostini2019-08-29T12:36:34Zoai:seer.ufrgs.br:article/9413Revistahttps://seer.ufrgs.br/index.php/AnaliseEconomicaPUBhttps://seer.ufrgs.br/index.php/AnaliseEconomica/oai||rae@ufrgs.br2176-54560102-9924opendoar:2019-08-29T12:36:34Análise Econômica (Online) - Universidade Federal do Rio Grande do Sul (UFRGS)false
dc.title.none.fl_str_mv ECONOMIC GROWTH AND THE BALANCE-OF-PAYMENTS CONSTRAINT IN LATIN AMERICA AND CARIBBEAN: A PANEL DATA ANALYSIS
CRESCIMENTO ECONÔMICO E RESTRIÇÕES EXTERNAS NA AMÉRICA LATINA E CARIBE: UMA ANÁLISE BASEADA EM DADOS EM PAINEL
title ECONOMIC GROWTH AND THE BALANCE-OF-PAYMENTS CONSTRAINT IN LATIN AMERICA AND CARIBBEAN: A PANEL DATA ANALYSIS
spellingShingle ECONOMIC GROWTH AND THE BALANCE-OF-PAYMENTS CONSTRAINT IN LATIN AMERICA AND CARIBBEAN: A PANEL DATA ANALYSIS
Martini, Ricardo Agostini
Lei de Thirlwall
Macroeconomia aberta
Modelos de dados em painel
América Latina.
Macroeconomia Aplicada
Economia Internacional
Thirlwall’s Law
Open macroeconomics
Panel data models
Latin America.
C23
E12
F43
O54.
title_short ECONOMIC GROWTH AND THE BALANCE-OF-PAYMENTS CONSTRAINT IN LATIN AMERICA AND CARIBBEAN: A PANEL DATA ANALYSIS
title_full ECONOMIC GROWTH AND THE BALANCE-OF-PAYMENTS CONSTRAINT IN LATIN AMERICA AND CARIBBEAN: A PANEL DATA ANALYSIS
title_fullStr ECONOMIC GROWTH AND THE BALANCE-OF-PAYMENTS CONSTRAINT IN LATIN AMERICA AND CARIBBEAN: A PANEL DATA ANALYSIS
title_full_unstemmed ECONOMIC GROWTH AND THE BALANCE-OF-PAYMENTS CONSTRAINT IN LATIN AMERICA AND CARIBBEAN: A PANEL DATA ANALYSIS
title_sort ECONOMIC GROWTH AND THE BALANCE-OF-PAYMENTS CONSTRAINT IN LATIN AMERICA AND CARIBBEAN: A PANEL DATA ANALYSIS
author Martini, Ricardo Agostini
author_facet Martini, Ricardo Agostini
author_role author
dc.contributor.author.fl_str_mv Martini, Ricardo Agostini
dc.subject.por.fl_str_mv Lei de Thirlwall
Macroeconomia aberta
Modelos de dados em painel
América Latina.
Macroeconomia Aplicada
Economia Internacional
Thirlwall’s Law
Open macroeconomics
Panel data models
Latin America.
C23
E12
F43
O54.
topic Lei de Thirlwall
Macroeconomia aberta
Modelos de dados em painel
América Latina.
Macroeconomia Aplicada
Economia Internacional
Thirlwall’s Law
Open macroeconomics
Panel data models
Latin America.
C23
E12
F43
O54.
description The main focus of this paper is to assess the relationship between international trade and economic growth in Latin America and the Caribbean for the period 1980-2005. We use panel data models to test Thirlwall’s law. Our results show that a growth rate of about 3% per year is compatible with foreign trade equilibrium. Although this rate is above the average growth observed in the period, it is not sufficient to allow the countries in the region to overcome its current stage of socio-economical underdevelopment. We also show that despite the stability of the income-elasticity of imports in the last decades, there has been an autonomous rise in the demand for imports in the region from the 1990s onwards.
publishDate 2011
dc.date.none.fl_str_mv 2011-03-15
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/9413
10.22456/2176-5456.9413
url https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/9413
identifier_str_mv 10.22456/2176-5456.9413
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/9413/11056
dc.rights.driver.fl_str_mv Copyright (c) 2019 Análise Econômica
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2019 Análise Econômica
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv UFRGS
publisher.none.fl_str_mv UFRGS
dc.source.none.fl_str_mv Análise Econômica; Vol. 28 No. 54 (2010): setembro de 2010
Análise Econômica; v. 28 n. 54 (2010): setembro de 2010
2176-5456
0102-9924
reponame:Análise Econômica (Online)
instname:Universidade Federal do Rio Grande do Sul (UFRGS)
instacron:UFRGS
instname_str Universidade Federal do Rio Grande do Sul (UFRGS)
instacron_str UFRGS
institution UFRGS
reponame_str Análise Econômica (Online)
collection Análise Econômica (Online)
repository.name.fl_str_mv Análise Econômica (Online) - Universidade Federal do Rio Grande do Sul (UFRGS)
repository.mail.fl_str_mv ||rae@ufrgs.br
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