GROWTH AND TECHNOLOGICAL-FINANCIAL DEPENDENCE CYCLES: FOLLOWING THE PREBISCH FOOTPRINT

Revista de Economia Contemporânea

关键词: Prebisch;    Latin America;    capital flows;    growth;    balance of payments;   

DOI  :  10.1590/198055272419

来源: DOAJ

【 摘 要 】

ABSTRACT This text reread the contribution of Prebisch in the era of deregulated financial flows, interpreted in a more general context of demand-driven growth, with the incorporation of capital flows as significant components of external dynamics. Given that the largest economies in Latin America cannot grow driven solely by exports, then the growth of these economies will present a trend towards the trade and current account deficit that will require a net influx of capital. Under certain conditions, this dynamic can be sustainable or not, with various implications for growth. The long-term balance between imports and exports will remain crucial, as in the original Prebisch vision. However, contrary to conventional views, the effects of capital flows can be very important for a strategy to promote structural change.

【 授权许可】

Unknown