Growth under external constraint in middle-income countries: An empirical analysis of the Multisectoral Thirlwall's Law (2000-2013)

Authors

  • Henrique Rogê Batista Universidade Federal do Mato Grosso (UFMT), Brasil
  • Henrique Dantas Neder Universidade Federal do Maranhão, Brasil

DOI:

https://doi.org/10.52292/j.estudecon.2020.1333

Keywords:

Economic Growth, External Constraint, Law Thirlwall, Multisetorial

Abstract

The article aims to test the validity of the growth model under a balance of pay-ments constraint according to the Multi-sectoral Thirlwall's Law (2007) for a group of 69 middle-income countries between 2000 and 2013. The result shows the valid-ity of the law, which denotes the relevant predictive power of the effective growth rate, and presents that the growth of these economies was restricted by the balance of payments. Given the non-statistical signifi cance of the variables composing the model, the same cannot be stated for a disaggregated sample of 15 countries. The results also highlight the importance of sectorial composition in international trade and the heterogeneity of the sample

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Published

2020-07-21

How to Cite

Batista, H. R., & Neder, H. D. (2020). Growth under external constraint in middle-income countries: An empirical analysis of the Multisectoral Thirlwall’s Law (2000-2013). Estudios económicos, 37(74), 127–160. https://doi.org/10.52292/j.estudecon.2020.1333

Issue

Vol. 37 No. 74 (2020)

Section

Articles

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