A Post-Kaleckian model with productivity growth and real exchange rate applied to selected Latin American countries
This paper aims to discuss the theory of productivity growth and its empirical applications, several authors emphasize the impact of real exchange rate devaluation on productivity. The main research question is: does the real exchange rate have a positive or negative impact on productivity growth?...
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| Format: | Article |
| Language: | English |
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Associazione Economia civile
2021-09-01
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| Series: | PSL Quarterly Review |
| Subjects: | |
| Online Access: | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/16603 |
| _version_ | 1811172587674271744 |
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| author | Douglas Alencar Frederico G Jayme Jr Gustavo Britto |
| author_facet | Douglas Alencar Frederico G Jayme Jr Gustavo Britto |
| author_sort | Douglas Alencar |
| collection | DOAJ |
| description |
This paper aims to discuss the theory of productivity growth and its empirical applications, several authors emphasize the impact of real exchange rate devaluation on productivity. The main research question is: does the real exchange rate have a positive or negative impact on productivity growth? The first step in answering this question is to discuss productivity growth in the context of demand regimes. The second step consists of an empirical experiment that estimates the productivity growth equation for a sample of Latin American countries. The overall outcome is that the Kaldor–Verdoorn coefficient is significant for all the analysed countries, Argentina, Brazil, Bolivia, Chile, Colombia, Mexico, Uruguay and Venezuela. Regarding the real exchange rate and this variable squared, the parameters are negative for all the countries, indicating that real exchange rate devaluation does not increase productivity growth.
JEL codes: O11, O15, O41
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| first_indexed | 2024-04-10T17:33:48Z |
| format | Article |
| id | doaj.art-b6e8764d00dd4d4185fd2eb18d0f9d00 |
| institution | Directory Open Access Journal |
| issn | 2037-3635 2037-3643 |
| language | English |
| last_indexed | 2024-04-10T17:33:48Z |
| publishDate | 2021-09-01 |
| publisher | Associazione Economia civile |
| record_format | Article |
| series | PSL Quarterly Review |
| spelling | doaj.art-b6e8764d00dd4d4185fd2eb18d0f9d002023-02-03T16:42:18ZengAssociazione Economia civilePSL Quarterly Review2037-36352037-36432021-09-017429710.13133/2037-3643/16603A Post-Kaleckian model with productivity growth and real exchange rate applied to selected Latin American countriesDouglas Alencar0Frederico G Jayme Jr1Gustavo Britto2Federal University of ParáFederal University of Minas GeraisFederal University of Minas Gerais This paper aims to discuss the theory of productivity growth and its empirical applications, several authors emphasize the impact of real exchange rate devaluation on productivity. The main research question is: does the real exchange rate have a positive or negative impact on productivity growth? The first step in answering this question is to discuss productivity growth in the context of demand regimes. The second step consists of an empirical experiment that estimates the productivity growth equation for a sample of Latin American countries. The overall outcome is that the Kaldor–Verdoorn coefficient is significant for all the analysed countries, Argentina, Brazil, Bolivia, Chile, Colombia, Mexico, Uruguay and Venezuela. Regarding the real exchange rate and this variable squared, the parameters are negative for all the countries, indicating that real exchange rate devaluation does not increase productivity growth. JEL codes: O11, O15, O41 https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/16603Post-Kaleckianaggregate demandreal exchange rateproductivityreal wages |
| spellingShingle | Douglas Alencar Frederico G Jayme Jr Gustavo Britto A Post-Kaleckian model with productivity growth and real exchange rate applied to selected Latin American countries PSL Quarterly Review Post-Kaleckian aggregate demand real exchange rate productivity real wages |
| title | A Post-Kaleckian model with productivity growth and real exchange rate applied to selected Latin American countries |
| title_full | A Post-Kaleckian model with productivity growth and real exchange rate applied to selected Latin American countries |
| title_fullStr | A Post-Kaleckian model with productivity growth and real exchange rate applied to selected Latin American countries |
| title_full_unstemmed | A Post-Kaleckian model with productivity growth and real exchange rate applied to selected Latin American countries |
| title_short | A Post-Kaleckian model with productivity growth and real exchange rate applied to selected Latin American countries |
| title_sort | post kaleckian model with productivity growth and real exchange rate applied to selected latin american countries |
| topic | Post-Kaleckian aggregate demand real exchange rate productivity real wages |
| url | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/16603 |
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