Economic growth and structural change in a multi-sector and multilateral approach to balance-of-payments constrained growth

ARAUJO, RICARDO AZEVEDO; PAIVA, MATHEUS SILVA DE; SANTOS, JULIO FERNANDO COSTA; SILVA, GUILHERME JONAS COSTA DA

doi:10.1590/0101-31572017v37n04a13

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Brazilian Journal of Political Economy

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Articles • Rev. Econ. Polit. 37 (4) • Oct-Dec 2017 • https://doi.org/10.1590/0101-31572017v37n04a13 copy

Economic growth and structural change in a multi-sector and multilateral approach to balance-of-payments constrained growth

Crescimento econômico e mudança estrutural numa abordagem multissetorial e multilateral de crescimento restrito pelo balanço de pagamentos

Authorship SCIMAGO INSTITUTIONS RANKINGS

ABSTRACT

This study aims to develop a multi-sector and multilateral model of balance-of-payments constrained growth. As a starting point, we adopted the models proposed by Araujo and Lima (2007) and Nell (2003). The paper also presents computer simulations to test how structural changes in the Pasinetti-Kaldor sense affect long-term economic growth. This approach is relevant insofar as it enables the identification of sectors and trading partners that contribute the most to long-term growth, as well as proposing economic and industrial policies that improve trade relations and economic competitiveness.

KEYWORDS:
Structural change; balance-of-payments constrained growth; trading partners

Partner/Sector	Industry (1)	Service (2)	Agriculture (3)
China (A)	$\frac{a_{n 1} a_{1 \hat{A}} β_{1 A}}{\sum_{i = 1}^{3} a_{n i} a_{\hat{t} A} φ_{i A}} = 0.0114$	$\frac{a_{n 2} a_{2 \hat{A}} β_{2 A}}{\sum_{i = 1}^{3} a_{n i} a_{\hat{t} A} φ_{i A}} = 0.0512$	$\frac{a_{n 3} a_{3 \hat{A}} β_{3 A}}{\sum_{i = 1}^{3} a_{n 1} a_{\hat{1} A} φ_{1 A}} = 0.0966$
USA (B)	$\frac{a_{n 1} a_{1 \hat{B}} β_{1 B}}{\sum_{i = 1}^{3} a_{n i} a_{\hat{t} B} φ_{i B}} = 0.0105$	$\frac{a_{n 2} a_{2 \hat{B}} β_{2 B}}{\sum_{i = 1}^{3} a_{n i} a_{\hat{t} B} φ_{i B}} = 0.0146$	$\frac{a_{n 3} a_{3 \hat{B}} β_{3 B}}{\sum_{i = 1}^{3} a_{n i} a_{\hat{t} B} φ_{i B}} = 0.0056$
Argentina (C)	$\frac{a_{n 1} a_{1 \hat{C}} β_{1 C}}{\sum_{i = 1}^{3} a_{n i} a_{\hat{t} C} φ_{i C}} = 0.05 □ 0$	$\frac{a_{n 2} a_{\hat{C}} β_{2 C}}{\sum_{i = 1}^{3} a_{n i} a_{\hat{t} C} φ_{i C}} = 0.005 □$	$\frac{a_{n 3} a_{3 \hat{C}} β_{3 C}}{\sum_{i = 1}^{3} a_{n i} a_{\hat{1} C} φ_{i C}} = 0.005 □$

Partner/Sector	Industry (1)	Service (2)	Agriculture (3)
China (A)	$\frac{a_{n 1} a_{1 \hat{A}} β_{1 A}}{\sum_{i = 1}^{3} a_{n i} a_{\hat{t} A} φ_{i A}} = 0.4566$	$\frac{a_{n 2} a_{2 \hat{A}} β_{2 A}}{\sum_{i = 1}^{3} a_{n i} a_{\hat{t} A} φ_{i A}} = 0.0512$	$\frac{a_{n 3} a_{3 \hat{A}} β_{3 A}}{\sum_{i = 1}^{3} a_{n 1} a_{\hat{1} A} φ_{1 A}} = 0.0914$
USA (B)	$\frac{a_{n 1} a_{1 \hat{B}} β_{1 B}}{\sum_{i = 1}^{3} a_{n i} a_{\hat{t} B} φ_{i B}} = 0.2005$	$\frac{a_{n 2} a_{2 \hat{B}} β_{2 B}}{\sum_{i = 1}^{3} a_{n i} a_{\hat{t} B} φ_{i B}} = 0.0146$	$\frac{a_{n 3} a_{3 \hat{B}} β_{3 B}}{\sum_{i = 1}^{3} a_{n i} a_{\hat{t} B} φ_{i B}} = 0.0056$
Argentina (C)	$\frac{a_{n 1} a_{1 \hat{C}} β_{1 C}}{\sum_{i = 1}^{3} a_{n i} a_{\hat{t} C} φ_{i C}} = 0.35 □ 0$	$\frac{a_{n 2} a_{\hat{C}} β_{2 C}}{\sum_{i = 1}^{3} a_{n i} a_{\hat{t} C} φ_{i C}} = 0.005 □$	$\frac{a_{n 3} a_{3 \hat{C}} β_{3 C}}{\sum_{i = 1}^{3} a_{n i} a_{\hat{1} C} φ_{i C}} = 0.005 □$

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E-mail: cecilia.heise@bjpe.org.br

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