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

According 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 inter...

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Autores principales:	Pérez Caldentey, Esteban, Rojas Rodríguez, Leonardo
Formato:	Texto
Lenguaje:	English
Publicado:	ECLAC 2020
Materias:	CRECIMIENTO ECONOMICO INVERSIONES EXPORTACIONES BALANZA DE PAGOS ANALISIS DE INVERSIONES MACROECONOMIA ECONOMIC GROWTH INVESTMENTS EXPORTS BALANCE OF PAYMENTS INVESTMENT ANALYSIS MACROECONOMICS
Acceso en línea:	http://hdl.handle.net/11362/46514
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spelling	oai-11362-465142020-12-18T13:39:25Z A stock-flow approach to investment requirements within balance-of-payments constrained growth Pérez Caldentey, Esteban Rojas Rodríguez, Leonardo CRECIMIENTO ECONOMICO INVERSIONES EXPORTACIONES BALANZA DE PAGOS ANALISIS DE INVERSIONES MACROECONOMIA ECONOMIC GROWTH INVESTMENTS EXPORTS BALANCE OF PAYMENTS INVESTMENT ANALYSIS MACROECONOMICS According 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. Introduction .-- 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. 2020-12-18T13:02:03Z 2020-12-18T13:02:03Z 2020-12-18 Texto Documento Completo http://hdl.handle.net/11362/46514 LC/TS.2020/152 en Documentos de Proyectos .pdf application/pdf AMERICA LATINA Y EL CARIBE LATIN AMERICA AND THE CARIBBEAN ECLAC
institution	Cepal
collection	Cepal
language	English
topic	CRECIMIENTO ECONOMICO INVERSIONES EXPORTACIONES BALANZA DE PAGOS ANALISIS DE INVERSIONES MACROECONOMIA ECONOMIC GROWTH INVESTMENTS EXPORTS BALANCE OF PAYMENTS INVESTMENT ANALYSIS MACROECONOMICS
spellingShingle	CRECIMIENTO ECONOMICO INVERSIONES EXPORTACIONES BALANZA DE PAGOS ANALISIS DE INVERSIONES MACROECONOMIA ECONOMIC GROWTH INVESTMENTS EXPORTS BALANCE OF PAYMENTS INVESTMENT ANALYSIS MACROECONOMICS Pérez Caldentey, Esteban Rojas Rodríguez, Leonardo A stock-flow approach to investment requirements within balance-of-payments constrained growth
description	According 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.
format	Texto
author	Pérez Caldentey, Esteban Rojas Rodríguez, Leonardo
author_facet	Pérez Caldentey, Esteban Rojas Rodríguez, Leonardo
author_sort	Pérez Caldentey, Esteban
title	A stock-flow approach to investment requirements within balance-of-payments constrained growth
title_short	A stock-flow approach to investment requirements within balance-of-payments constrained growth
title_full	A stock-flow approach to investment requirements within balance-of-payments constrained growth
title_fullStr	A stock-flow approach to investment requirements within balance-of-payments constrained growth
title_full_unstemmed	A stock-flow approach to investment requirements within balance-of-payments constrained growth
title_sort	stock-flow approach to investment requirements within balance-of-payments constrained growth
publisher	ECLAC
publishDate	2020
url	http://hdl.handle.net/11362/46514
work_keys_str_mv	AT perezcaldenteyesteban astockflowapproachtoinvestmentrequirementswithinbalanceofpaymentsconstrainedgrowth AT rojasrodriguezleonardo astockflowapproachtoinvestmentrequirementswithinbalanceofpaymentsconstrainedgrowth AT perezcaldenteyesteban stockflowapproachtoinvestmentrequirementswithinbalanceofpaymentsconstrainedgrowth AT rojasrodriguezleonardo stockflowapproachtoinvestmentrequirementswithinbalanceofpaymentsconstrainedgrowth
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A stock-flow approach to investment requirements within balance-of-payments constrained growth

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