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Micro-macro interactions, growth and income distribution revisited

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Documento en inglés (562.2Kb)
Date
2017-06
Author
Cimoli, Mario
Porcile, Gabriel
UN Symbol
LC/TS.2017/55
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Abstract
The international economy is marked by major asymmetries in technological capabilities and power, both at the domestic and international levels —a point emphasized by the structuralist tradition. These asymmetries strongly affect economic outcomes and place major constraints on economic policy. This working paper discusses how the microeconomics of learning interacts with structural change and the evolution of aggregate demand to generate either virtuous paths of economic development or vicious circles of underdevelopment and lagging behind. Some implications of these growth paths for the international and domestic political economy are discussed.
Abstract
Abstract .-- Introduction .-- I. Rationality and institutions in an uncertain world .-- II. Learning and the co-evolution of capabilities and the production structure .-- III. Structural Inertia, Lock-in and Institutions .-- IV. Institutions and power: Schumpeterian political economy .-- V. Combining the supply side and the demand side: a graphic interpretation .-- VI. Concluding remarks.
Serie
Serie Desarrollo Productivo No. 212
ECLAC Subtopics
INCOME DISTRIBUTION ; MACROECONOMICS ; MICROECONOMICS ; STRUCTURAL CHANGE
United Nations Subtopics
MICROECONOMICS ; MACROECONOMICS ; ECONOMIC CONDITIONS ; ECONOMIC GROWTH ; INCOME DISTRIBUTION ; ECONOMIC SYSTEMS
Country / Region
LATIN AMERICA AND THE CARIBBEAN
URI
https://hdl.handle.net/11362/41854
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