In this work we first model the role of demand- and supply-side factors (labour market adjustment, productive efficiency) in explaining economic growth. Empirically testing the model, we evaluate why different growth regimes may appear in the 20 Italian administrative regions. This exercise uses a two-stage econometric approach. Estimates for the elasticity of manufacturing output to exports are obtained from regional time series: a significant long-run relationship indicates the existence of a demand-constrained growth regime. We then ascertain whether the regional dispersion of supply-side factors has an impact on the regional dispersion of growth regimes. The empirical evidence supports our expectations of strong regional differences. Southern regions are less likely to display demand-constrained regimes. In explanation of these differences, second-stage analysis reveals that a strong role is played by such efficiency-enhancing factors as technological innovation, bank diffusion and 'social capital'. No role is found for labour market rigidities.Export-led growth, supply-constrained growth, dualistic development, long-run relationships,
DEMOCRACIA BURGUESA E POLÍTICA ECONÔMICA: o trágico caso grego Resumo: O artigo aborda dimensões da relação democracia burguesa e politica econômica, tendo como referência limita à experiência da Grécia ou aos outros países do sul da Europa, ao contrário, é muito mais abrangente e é da própria burguesa, cada vez mais, é reduzida a um ritual substancial sem sentido. Frente à população da Grécia, esmagada entre a adesão às demandas das instituições representativas do bloco de capitais do continente e o respeito à "delegação" momento, o regime de "suspensão" à soberania democrática. Palavras-chave: Crise capitalista, referendo grego, democracia burguesa.
BOURGEOIS DEMOCRACY AND POLITICAL ECONOMY: the tragic greek case Abstract:The article discusses dimensiones of the relation of bourgeois democracy and political aconomy, having as of the debt is not limited to the experience of Greece and of other Southern Europeam Countries, by contrast, is much more comprehensive ando f other Southern European countries, by contrast, is much more comprehensive and is in the nature of capitalist production, especially in crisis phase. Concludes that the Greek case shows that bourgeois democracy, increasingly, it is reduced to a ritual substantially pointless. Front of the population of Greece, crushed between adherence to the demands of representative institutions of the continent's capital block and respect for "delegation" given by the "suspension" democratic sovereignty.
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