This paper contributes to the literature on balance-of-payments-constrained growth by providing an innovative empirical evaluation of a disaggregated version of the so-called Thirlwall's Law derived from a Pasinettian multisectoral framework. After estimating sectoral elasticities of exports and...

This paper develops residual-based monitoring procedures for cointegrating polynomial regressions (CPRs), i.e., regression models including deterministic variables and integrated processes, as well as integer powers, of integrated processes as regressors. The regressors are allowed to be...

This is a simulation-based warning note for practitioners who use the MGLS unit root tests in the context of structural change using different selection lag length criteria. With T=100 , we find severe oversize problems when using some criteria, while other criteria produce an undersizing...

A two country, three sector hybrid model of structural change with distortionary government policies is used to quantify the impact of international trade and trade reform for industrialization. The model features Arming- ton motivated trade in agriculture and industry, and a novel...

Traditional structural change theories study the dynamics of inter-sector labour-reallocation in autarky models. We analyse how model-results change if open economy setting is assumed, where we focus on the impacts of intermediate trade in a multi-sector growth model with capital accumulation....

This paper investigates whether or not multivariate cointegrated process with structural change can describe the Brazilian term structure of interest rate data from 1995 to 2006. In this work the break point and the number of cointegrated vector are assumed to be known. The estimated model has...

Although the Structural Economic Dynamic approach provides a simultaneous consideration of demand and supply sides of economic growth, it does not take into fully account the possible role played by demand in the generation of technical progress. From a neo-Kaldorian perspective, this paper...

With this inquiry we seek to develop a disaggregated version of the post-Keynesian approach to economic growth, by showing that indeed it can be treated as a particular case of the Pasinettian model of structural change and economic expansion. By relying upon vertical integration it becomes...

Why do some regions grow faster than others? More precisely, why do rates of convergence differ? Recent research points to labour market frictions as a possible answer. This paper expands along this line by investigating how these labour market frictions interact with regional migration....

This paper aims (1) to test the endowment-based structural change theory proposed by recent studies such as Acemoglu & Guerrieri (2008) and Ju, Lin & Wang (2009); and (2) to explore the linkage between structural coherence and economic growth. By structural coherence, I refer to the degree that...