Thirlwall’s Law And NewDevelopmentalism: What Are The Limits For Long-Run Growth?
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| Format: | Artículo científico |
| Language: | en |
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Universidad Nacional Autónoma de México
2023
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| _version_ | 1876424987499298816 |
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| author | José Luis Oreiro |
| author_facet | José Luis Oreiro |
| contents | Thirlwall’s Law And NewDevelopmentalism: What Are The Limits For Long-Run Growth? José Luis Oreiro Economía y Finanzas economic growth Anthony Thirlwall structural change real exchange rate The aim of this article is to argue that New-Developmentalism -understood as an approach to the deep determinants of economic development in which macroeconomic policy regime has a key role in explaining the long-term growth differentials among countries, notably middle-income countries- is not incompatible with Balance of Payments Constrained Growth models pioneered and developed by Professor Thirlwall, but can be considered an extension and improvement of such a class of models in order to incorporate structural change induced by exchange rate overvaluation as the main limit of long-run growth for middle-income dual economies, thereby explaining the so-called middle-income trap. Jel Classification:O11, O14, O24. 2023 artículo científico 0185-1667 https://www.redalyc.org/articulo.oa?id=60179530004 https://www.redalyc.org/journal/601/60179530004/ https://www.redalyc.org/journal/601/60179530004/html/ https://www.redalyc.org/journal/601/60179530004/60179530004.epub https://www.redalyc.org/journal/601/60179530004/movil 10.22201/fe.01851667p.2023.326.86496 en http://www.redalyc.org/revista.oa?id=601 Investigación Económica application/pdf Universidad Nacional Autónoma de México Investigación Económica (México) Num.326 Vol.82 |
| format | Artículo científico |
| id | redalyc_60179530004 |
| institution | Redalyc |
| language | en |
| publishDate | 2023 |
| publisher | Universidad Nacional Autónoma de México |
| spellingShingle | Thirlwall’s Law And NewDevelopmentalism: What Are The Limits For Long-Run Growth? José Luis Oreiro Economía y Finanzas economic growth Anthony Thirlwall structural change real exchange rate Thirlwall’s Law And NewDevelopmentalism: What Are The Limits For Long-Run Growth? José Luis Oreiro Economía y Finanzas economic growth Anthony Thirlwall structural change real exchange rate The aim of this article is to argue that New-Developmentalism -understood as an approach to the deep determinants of economic development in which macroeconomic policy regime has a key role in explaining the long-term growth differentials among countries, notably middle-income countries- is not incompatible with Balance of Payments Constrained Growth models pioneered and developed by Professor Thirlwall, but can be considered an extension and improvement of such a class of models in order to incorporate structural change induced by exchange rate overvaluation as the main limit of long-run growth for middle-income dual economies, thereby explaining the so-called middle-income trap. Jel Classification:O11, O14, O24. 2023 artículo científico 0185-1667 https://www.redalyc.org/articulo.oa?id=60179530004 https://www.redalyc.org/journal/601/60179530004/ https://www.redalyc.org/journal/601/60179530004/html/ https://www.redalyc.org/journal/601/60179530004/60179530004.epub https://www.redalyc.org/journal/601/60179530004/movil 10.22201/fe.01851667p.2023.326.86496 en http://www.redalyc.org/revista.oa?id=601 Investigación Económica application/pdf Universidad Nacional Autónoma de México Investigación Económica (México) Num.326 Vol.82 |
| title | Thirlwall’s Law And NewDevelopmentalism: What Are The Limits For Long-Run Growth? |
| topic | Economía y Finanzas economic growth Anthony Thirlwall structural change real exchange rate |
| url | https://www.redalyc.org/articulo.oa?id=60179530004 https://www.redalyc.org/journal/601/60179530004/ https://www.redalyc.org/journal/601/60179530004/html/ https://www.redalyc.org/journal/601/60179530004/60179530004.epub https://www.redalyc.org/journal/601/60179530004/movil |