By exploring the implications of a Multi-Sector Thirlwall’s Law, this paper reports empirical exercises that contribute to an understanding of the relationship between structural change, external constraint and growth in Brazil in the 1962-2006 period. Given the sectoral nature of these...

Productive structure, external constraint and economic growth: the Brazilian experience - We analyze the sharp drop in the growth rate that has been experienced by the Brazilian economy since the 1980s, using the balance-of-payments-constrained growth approach. Empirical results show that growth...

Calculations of decomposition of the RF GDP growth rates in 1999–2015 and the MED's forecast for 2016–2019 show that in current conditions cyclical components related to the domestic business cycle's entering the positive phase are the only source of economic growth. However, they alone are...

In the wake of high and rising oil prices since 2003, the member states of the Gulf Cooperation Council (GCC) have seen dynamic economic development, enhancing their role in the global economy as investors and trade partners. Real GDP growth has been buoyant, with non-oil activity expanding...

In the wake of high and rising oil prices since 2003, the member states of the Gulf Cooperation Council (GCC) have seen dynamic economic development, enhancing their role in the global economy as investors and trade partners. Real GDP growth has been buoyant, with non-oil activity expanding...

We employ the total factor productivity (TFP) index in growth accounting as a proxy for productivity growth to compare patterns and sources of output growth for a group of proximate countries in Asia-Pacific Economic Cooperation region.

What are the long-run effects of permanent changes to the economy? We characterize long-run comparative statics for a broad class of models in terms of expenditure shares, substitution elasticities, and capital supply elasticities. Our key insight is that long-run analysis can be performed using...

We study the importance of international trade in structural change. Our framework has both productivity and trade cost shocks, and allows for non-unitary income and substitution elasticities. We calibrate our model to investigate South Korea's structural change between 1971 and 2005. We find...