Thirlwall or Solow? An analysis of the Brazilian economy between 1947 and 2008

Authors

DOI:

https://doi.org/10.1590/cgxbmg26

Keywords:

Exports, Physical capital, Human capital, Exchange rate, Economic performance

Abstract

Certain evidence and theories point to the existence of a relationship between economic growth and the current account balance. According to this approach, positive external sector performance is a key element for an economy to reach sustainable rates of investment and economic growth. On the other hand, literature on economic growth emphasizes the association between economic performance and production factors accumulation. Taking into consideration these two theoretical approaches, the present study aims to develop a model relating these two different approaches and investigate how the balance of payments constraint impacts physical and human capitals investments and, consequently, the Brazilian economy’s performance between 1947 and 2008.

Author Biography

  • Luciano Nakabashi, University of São Paulo

    PhD in Economics from the Federal University of Minas Gerais (UFMG). Researcher at CNPq and professor at the School of Economics, Business Administration and Accounting of the University of São Paulo (USP), Ribeirão Preto, SP – Brazil.

References

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Published

2013-01-29

Issue

Vol. 21 No. 3 (2012)

Section

Article

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