Devaluation, Conflict Inflation and Endogenous Growth in a Small Open Economy

Jose Cordero

EconoQuantum, Revista de Economia y Finanzas, 2004, vol. 1, issue 1, 3-15

Abstract: This article attempts to formalize some of Kaldor's ideas about endogenous growth (resulting from a process of cumulative causation). In the context of a small open economy, the rate of growth of this economy is determined by effective demand, with the trade deficit adjusting to clear the goods market. The wage rate and exchange rate inflation are driven by a distributional conflict.

Keywords: Effective demand; distributional conflict and Technical progress function (search for similar items in EconPapers)
JEL-codes: O15 O3 O44 (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:qua:journl:v:1:y:2004:i:1:p:3-15

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