Una macroeconomía para el desarrollo. Esbozo de un modelo de crecimiento, inversión y distribución del ingreso

Martín Abeles and Esteban Perez Caldentey
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Martín Abeles: ECLAC

El Trimestre Económico, 2022, vol. 89 (1), issue 353, 111-149

Abstract: This article analyzes three central themes of macroeconomics for development: growth, investment, and income distribution, by combining the structuralist perspective with a post-Keynesian approach based on the consistent treatment of flows and stocks at the macroeconomic level. Sustained by two central premises of structuralist thought, the theorization of reality, and the fact that the institutional framework and distributive relations determine the macroeconomic behavior of an economy, the article argues that the macroeconomic performance of Latin America and the Caribbean is characterized by three stylized facts: the trend towards stagnation in economic growth, increased indebtedness, and high inequality when taking into account its three dimensions (personal and functional income distribution, and wealth distribution). The post-Keynesian approach analyzes macroeconomic behavior based on financial balances for the government sector, the non-financial corporate sector, and the external sector that allow identifying the sectors that promote or discourage economic growth. This approach is superimposed on a classification of countries by production/export and subregional structure.

Keywords: growth; investment; income distribution; structuralist and post-Keynesian focus; hydrocarbons exporters; agro-industrial products exporters; metal exporters; financially integrated countries; Central American Isthmus. (search for similar items in EconPapers)
JEL-codes: B50 E32 N16 O40 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:elt:journl:v:89:y:2022:i:353:p:111-149

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DOI: 10.20430/ete.v89i353.1430

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