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Neo-Kaleckian literature has actively debated whether growth is wage- or profit-led in capitalist economies. However, existing studies tend to ignore the non-tradable sector and heterogeneity within the tradable sector. This paper shows that incorporating these features renders wage-led growth...
Persistent link: https://www.econbiz.de/10010466324
A recent body of empirical research has documented a strong association between the level and volatility of the RER and economic growth. This research has relied on a variety of econometric techniques applied to large cross-country data sets. Although the documented positive effects of both RER...
Persistent link: https://www.econbiz.de/10010209280
neglected issues of development and structural transformation. The purpose of this paper is to make a contribution to this gap … is supported by a review of, amongst other, Kalecki's writing on development and a two-sector model building on Razmi et …
Persistent link: https://www.econbiz.de/10012024613
This paper reviews different literature strands and performs an empirical test to evaluate how capital ownership, particularly its nationality, might affect long-run economic develop- ment. Our results indicate that low and middle-income countries with larger foreign capital stock in 1980 had...
Persistent link: https://www.econbiz.de/10014229769