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The impossible quartet in a demand led growthsupermultiplier model for a small open economy.
- Source :
-
Brazilian Journal of Political Economy / Revista de Economia Política . jul-set2023, Vol. 43 Issue 3, p592-618. 27p. - Publication Year :
- 2023
-
Abstract
- The aim of this paper is to investigate the long run sustainability of a growth path led by multiple non-creating capacity autonomous expenditures in a demand led-supermultiplier model for a small open economy. Using two different models the results show that it is impossible to have in the same model long-term economic growth driven by the non-capacity creating component of domestic demand, exogenous income distribution, long-run balance between productive capacity and aggregate demand and balance of payments equilibrium. Economic viability of the balanced-growth path demands growth to be led by exports, at least for small open economies. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 01013157
- Volume :
- 43
- Issue :
- 3
- Database :
- Academic Search Index
- Journal :
- Brazilian Journal of Political Economy / Revista de Economia Política
- Publication Type :
- Academic Journal
- Accession number :
- 171912078
- Full Text :
- https://doi.org/10.1590/0101-31572023-3448