Crescimento econômico secular no Brasil, modelo de Thirlwall e termos de troca

Márcio Holland () and Fabrício Vieira ()

Revista Economia e Sociedade, 2008, vol. 33, 30

Abstract: Long-run economic growth in Brazil, Thirlwall´s model and terms of trade ? Explaining the Brazilian economic growth performance during the 20th is a challenging task to academics. As shown, Brazil had already experienced faster growth and recently it is far from such belle époque. Most explanations are based on conventional frameworks. This paper assesses the Balance-of-Payments constraint model to Brazilian economic growth in the period 1900-2005, highlighting the importance of the terms of trade. The results show, first, that the terms of trade are significant in the estimation of import demand function and change the income elasticity, especially in the first period of the sample (1900-1970), and, second, when the simplest Thirlwall?s model is controlled by terms of trade, it seems that such variable is important through import growth, which cause changes in economic performance.

Keywords: Brazilian economic growth; Terms of trade; Balance-of-Payments Constraint; Thirlwall?s law. (search for similar items in EconPapers)
JEL-codes: C22 E01 F10 O10 (search for similar items in EconPapers)
Date: 2008
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Related works:
Working Paper: Crescimento econômico secular no Brasil, modelo de thirlwall e termos de troca (2010)
Working Paper: CRESCIMENTO ECONÔMICO SECULAR NO BRASIL, MODELO DE THIRLWALL E TERMOS DE TROCA (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:euc:ancoec:v:33:y:2008:p:17-46

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