The aim of this paper is to demonstrate that, especially in developing countries, changes in the real exchange rate affect both the structure of production and the income elasticities of the demand for imports and exports – and, as a result, the balance-of-payments constraint to growth in the...

This paper discusses and assesses the features of the Brazilian Financial System, as well as the impacts of Liquidity Preference on Regional Development in Brazil. In the post-Keynesian literature, money is considered endogenous to the economic system, introduced in the economic activity through...

This paper analyses empirically the relationship between economic growth and the openness of the financial account of the balance of payments. It takes into consideration the balance of payments’ constrained growth, as well as the difficulties in the empirical literature in measuring capital...

The aim of this paper is to discuss the idea that knowledge externalities, as discussed in the Endogenous Growth Theory, can be spread over any kind of space. Although this point has already been discussed by some scholars in the heterodox tradition (Nelson, 1998, Martin and Sunley, 1998, among...

The aim of this paper is to analyze the impacts of openness on employment and wages, taking into consideration two crucial aspects. The first, related to labor demand, refers to an increase in the relative employment of less-skilled workers. With Brazil being a developing country with abundant...

This paper explores the financial development in Brazil. It focuses on the impacts of the development level of a municipality’s financial system over its neighborhood, under the light of the Central Place Theory. Using a GMM estimator for a spatial panel model with an endogenous spatial lag...