The Brazilian economy pulled by the aggregate demand. This article aims to present the demand-led growth theory and some empirical evidences for a demand-led growth regime in Brazil. First of all, we will do a brief review of the theory of demand led-growth, based in the seminal work of Kaldor...

Using Thirwall´s model, we can conclude that the restriction of the balance of payments was crucial in the determination of the Brazilian economic growth in the period 1947-2000. The estimated income elasticity of the demand for imported products, based on the extended Thirwall´s model, was...

Although the improvement accomplished in the external accounts and the Brazilian economic growth in recent years, it would be incorrect to conclude that the external restriction is not important to determine the economic growth rate in longer periods of time. The maintenance of the Brazilian...

In the economic growth and development literature there are two elements that are usually considered to be essential in shaping countries’ economic performance. The first one is that investments on the real sector are a necessary condition to generate productive capacity on industry and other...