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Efeitos de varia??es cambiais em uma abordagem de dinamica de mudan?a estrutural à teoria do crescimento restrito pelo balan?o de pagamentos

DOI: 10.1590/S0104-06182012000300005

Keywords: structural change dynamics, thirwall's law, exchange rate.

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Abstract:

in this paper it is shown that once-for-all variations at the level of the exchange rate can play an important role in the sectoral composition of the economy. this fact has important implications in terms of a disaggregated version of thirlwall's law, even when the argument of the quantitative unimportance of relative price movements holds. the growth rate of a country is therefore shown to be affected by once-for-all movements at the level of nominal exchange rates and the concept of a natural exchange rate is introduced.

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