Balance-of-payments-constrained economic growth in Brazil

Jayme, Frederico G.

doi:10.1590/0101-31572004-0708

Cited by 34 publications

(8 citation statements)

References 23 publications

(35 reference statements)

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“…Recently, it has been reported that this primary equation's application to the international data results in a remarkable approximation of the growth experience of many countries (Thirlwall, 2011b). Equation (1) can be derived by substituting the standard export and import demand functions in the trade balance equation; this procedure can be found in the studies of Jayme (2003) and Holland, Vieira and Canuto (2004).…”

Section: Models Composition For Analysismentioning

confidence: 99%

Import Demand Income Elasticity and Growth Rate in Pakistan

Khan

Azam

Emirullah

2016

Foreign Trade Review

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This article applies the import demand function and constrained growth model in case of Pakistan and investigates for the impact of trade liberalization using data for the period of 1981-2010. The autoregressive distributed lag method and rolling regression analysis are employed to estimate import demand income elasticity. In results, the imports are found to be highly sensitive to the changes in income level. In addition, a trend of gradual increase in income elasticity of imports has been found since the aftermath of trade liberalization. However, no evidence has been found that indicates that the growth rate is increased as a consequence of liberalization. The liberalization has not increased export growth in association with the rising growth in import demand income elasticity. Thus, it is concluded that liberalization has increased the external constraint over economic growth. JEL: F13, F14, F43, O53

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Section: Models Composition For Analysismentioning

confidence: 99%

Import Demand Income Elasticity and Growth Rate in Pakistan

Khan

Azam

Emirullah

2016

Foreign Trade Review

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“…In emerging economies with institutional environments characterized by resource constraints, relatively light-touch regulation, but a concomitant capacity from frugal innovation, playing host to FDI is a necessary plank of the economic developmental model̄ (Horwitz & Budhwar, 2015;Modou & Yun, 2017;Peng, 2001;Yiu et al, 2007;Zeschky et al, 2011). Among other things, this FDI contributes to their respective balance of payments, provides exchange rate stability, reduces the volatility of the economy, and ensures greater predictability for economic agents in general (Ayme, 2003;Bhat & Bhat, 2021).…”

Section: Introductionmentioning

confidence: 99%

Emerging Economy Inward and Outward Foreign Direct Investment: A Bibliometric and Thematic Content Analysis

et al. 2021

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Research examining emerging economy inward and outward foreign direct investment (FDI) flows is on a significant upward trajectory. In this bibliometric analysis covering 806 articles published between 1994 and 2019, we map key aspects of its contours. Our analysis proceeds in two sequential phases involving a performance analysis, followed by a thematic analysis. Our performance analysis unveils fundamental elements of the structure of the knowledge base. Our subsequent thematic analysis identifies three focal topics arising from identifiable shared qualities characterizing this literature. Firstly, we distinguish scholarship focused on inward FDI into emerging economies formed by two particular classes, namely ‘innovative FDI’ and ‘capital flows’. Our second theme covers outward FDI from these emerging economies and also comprises two specific classes referring to the ‘institutional environment’ and the ‘theoretical framework deployed’. Our final theme relates to an integrated body of knowledge explicating aspects of the location choice decision. Building on this analysis, we isolate a number of opportunities for future research.

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“…Brazil has also been studied as an example of these constraints. By presenting insufficient productive modernization (marked by historically low levels of investment and Research and Development (R&D) expenditure), external constraints in the absolute form (declining or lack of available foreign currency for imports) and in the relative form (imports capacity growing slower than output) have repeatedly been an obstacle to the country's economic development [70,72,73]. Although the Brazilian economy has changed significantly in recent decades, it has been reproducing the structural characteristics that aggravate external restriction to long-term economic growth, such as an increased reliance on natural resource intensive exports and on imports of technologically intensive goods [72,74].…”

Section: Resultsmentioning

confidence: 99%

Developing Green: A Case for the Brazilian Manufacturing Industry

Gramkow

Anger-Kraavi

2019

Sustainability

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The recent IPCC Special Report on global warming of 1.5 °C emphasizes that rapid action to reduce greenhouse gas (GHG) emissions is vital to achieving the climate mitigation goals of the Paris Agreement. The most-needed substantial upscaling of investments in GHG mitigation options in all sectors, and particularly in manufacturing sectors, can be an opportunity for a green economic development leap in developing countries. Here, we use the Brazilian manufacturing sectors as an example to explore a transformation of its economy while contributing to the Paris targets. Projections of Brazil’s economic futures with and without a portfolio of fiscal policies to induce low carbon investments are produced up to 2030 (end year of Brazil’s Nationally Determined Contribution—NDC), by employing the large-scale macro econometric Energy-Environment-Economy Model, E3ME. Our findings highlight that the correct mix of green stimulus can help modernize and decarbonize the Brazilian manufacturing sectors and allow the country’s economy to grow faster (by up to 0.42% compared to baseline) while its carbon dioxide (CO2) emissions decline (by up to 14.5% in relation to baseline). Investment levels increase, thereby strengthening exports’ competitiveness and alleviating external constraints to long-term economic growth in net terms.

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Balance-of-payments-constrained economic growth in Brazil

Cited by 34 publications

References 23 publications

Import Demand Income Elasticity and Growth Rate in Pakistan

Import Demand Income Elasticity and Growth Rate in Pakistan

Emerging Economy Inward and Outward Foreign Direct Investment: A Bibliometric and Thematic Content Analysis

Developing Green: A Case for the Brazilian Manufacturing Industry

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