Economic growth and the balance-ofpayments constraint: The case of the Spanish regions, 1988-2008

Oscar Bajo-Rubio () and Carmen Diaz-Roldan

No 11-04, Working Papers from Asociación Española de Economía y Finanzas Internacionales

Abstract: The balance of payments can act as a constraint to the rate of growth of output, on putting a limit to the growth in the level of demand to which supply can adapt. This effect might be even stronger for regional economies, presumably more integrated among them. In this paper, we examine this issue for the case of the Spanish regions over the period 1988-2008, and calculate their balance of payments-constrained growth rates. By comparing these balance of payments-constrained growth rates with the actual growth rates, we would be able to assess whether the balance of payments has worked as a constraint to economic growth for the Spanish regional economies in the period analyzed.

Keywords: Economic growth; External deficit; Spanish regions (search for similar items in EconPapers)
JEL-codes: F41 F43 O40 (search for similar items in EconPapers)
Pages: 12 pages
Date: 2011-05
New Economics Papers: this item is included in nep-fdg, nep-geo and nep-opm
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http://www.aeefi.com/RePEc/pdf/defi11-04.pdf (application/pdf)

Related works:
Journal Article: Economic Growth and the Balance-of-Payments Constraint: The Case of the Spanish Regions, 1988–2009 (2015)
Working Paper: Economic growth and the balance-of-payments constraint: The case of the Spanish regions (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:aee:wpaper:1104

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