Dinâmicas de crescimento econômico cumulativo e determinantes não-preço: Uma análise sob a perspectiva Kaldoriana entre 1985 e 2015

Abstract

León-Ledesma (2002) proposes an extension to the canonical Kaldorian model of cumulative economic growth based on the introduction of variables related to non-price competitiviness. Greater emphasis is given to the effects of structural changes towards more dynamic and technologically intensive sectors. In this work, we present the estimation of a Kaldorian economic growth model using non-price competitiviness variables for a more recent time frame, between 1985 and 2015, using a balanced panel for 91 countries applying a GMM system estimator. The results achieved indicate that, in addition to the classic variables contained in the classic kaldorian growth model, indicators related to non-price competitiveness, such as the average schooling of the population, the growth rate of labor productivity and the share of investment in the Gross Domestic Product, demonstrate significant and positive effects. Also, we perform several robustness checks to ensure the quality of the results. Finally, we discuss the work’s limitations and implications related to public policies for economic growth.