Growth cycles in Latin America and developed countries
Adriana Moreira Amado,
Marco Flávio da Cunha Resende and
Frederico Jayme Jr ()
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Adriana Moreira Amado: UnB
Marco Flávio da Cunha Resende: Cedeplar-UFMG
Textos para Discussão Cedeplar-UFMG from Cedeplar, Universidade Federal de Minas Gerais
The Minskyan approach to financial instability and its effects on the real economy have recently been revived in order to explain the exchange rate crises undergone by the so-called emergent economies. Economies of this type are characterized by repeated scarcity of foreign currency, which can be explained by using Neo-Schumpeterian theory. Based on the Minskyan approach and on the Neo-Schumpeterian literature, this study seeks to demonstrate that there is a cyclic recurrence of exchange rate crises in Latin-American (peripheral) economies. By using data on international liquidity, the balance of payments and the increase in production in the G7 economies and in thirteen Latin-American economies, it was found that the Latin-American economies mirror the cycles of international liquidity.
Keywords: financial instability; national innovation system; cycles (search for similar items in EconPapers)
JEL-codes: F32 F33 F43 O30 (search for similar items in EconPapers)
Pages: 24 pages
New Economics Papers: this item is included in nep-cba, nep-dev and nep-opm
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Working Paper: GROWTH CYCLES IN LATIN AMERICA AND DEVELOPED COUNTRIES (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:cdp:texdis:td327
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