A stock-flow approach to investment requirements within balance-of-payments constrained growth

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cepal.bibLevelDocumento Completo
cepal.callNumberLC/TS.2020/152
cepal.divisionEngEconomic Development Division
cepal.divisionSpaDivisión de Desarrollo Económico
cepal.docTypeDocumentos de proyectos e investigación
cepal.jobNumberS2000838_en
cepal.sdg1
cepal.topicEngBALANCE OF PAYMENTS
cepal.topicEngECONOMIC GROWTH
cepal.topicEngINVESTMENT
cepal.topicEngMACROECONOMICS
cepal.topicSpaBALANZA DE PAGOS
cepal.topicSpaCRECIMIENTO ECONÓMICO
cepal.topicSpaINVERSIÓN
cepal.topicSpaMACROECONOMÍA
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
dc.contributor.authorPérez Caldentey, Esteban
dc.contributor.authorRojas Rodríguez, Leonardo
dc.coverage.spatialEngLATIN AMERICA AND THE CARIBBEAN
dc.coverage.spatialSpaAMERICA LATINA Y EL CARIBE
dc.date.accessioned2020-12-18T13:02:03Z
dc.date.available2020-12-18T13:02:03Z
dc.date.issued2020-12-18
dc.description.abstractAccording to the balance-of-payments constrained growth model, an expansion of aggregate domestic demand is effective in increasing the long-run rate of growth of an economy to the extent that the performance of the external sector validates it. While the performance of the domestic economy is intertwined with that of the external sector, the balance-of-payments constraint on growth does not make these relationships explicit. This document addresses this issue and proposes a framework to make explicit the investment requirements with balance-of-payments constrained growth. This is done in two steps. The document first develops a theoretical framework to explicitly bring to light the investment requirements consistent with the balance-of-payments constraint. Second, it proposes a stock-flow model comprising five sectors (households, firms, government, commercial banks, and the external sector) to analyse the relationships between the external sector and commercial banks and the performance of the domestic economy, including investment.
dc.description.tableOfContentsIntroduction .-- I. Growth, investment and exports .-- II. The balance-of-payments constraint and the internal conditions for equilibrium .-- III. Internal growth requirements consistent with the balance of payments constraint .-- IV. A stock-flow approach to investment requirements .-- V. A brief description of the behavior of the agents of the stock-flow model .-- VI. The logic and causality of the model and some simulation results.
dc.formatTexto
dc.format.extent37 páginas.
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/TS.2020/152
dc.identifier.urihttps://hdl.handle.net/11362/46514
dc.language.isoeng
dc.physicalDescription37 p.
dc.publisherECLAC
dc.publisher.placeSantiago
dc.relation.isPartOfSeriesDocumentos de Proyectos
dc.rights.coarDisponible
dc.subject.unbisEngECONOMIC GROWTH
dc.subject.unbisEngINVESTMENTS
dc.subject.unbisEngEXPORTS
dc.subject.unbisEngBALANCE OF PAYMENTS
dc.subject.unbisEngINVESTMENT ANALYSIS
dc.subject.unbisEngMACROECONOMICS
dc.subject.unbisSpaCRECIMIENTO ECONOMICO
dc.subject.unbisSpaINVERSIONES
dc.subject.unbisSpaEXPORTACIONES
dc.subject.unbisSpaBALANZA DE PAGOS
dc.subject.unbisSpaANALISIS DE INVERSIONES
dc.subject.unbisSpaMACROECONOMIA
dc.titleA stock-flow approach to investment requirements within balance-of-payments constrained growth
dc.type.coarlibro
dspace.entity.typePublication
relation.isAuthorOfPublication46b761e0-92ca-4c05-ba68-1f622b268d99
relation.isAuthorOfPublicationd947d79e-b8a7-4959-94c5-ac41709626ce
relation.isAuthorOfPublication.latestForDiscovery46b761e0-92ca-4c05-ba68-1f622b268d99
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