The purpose of this work is to analyze the balance-of-payments-constrained growth in Brazil considering Thirwall's Law (1979). To this end, we estimate export and import demand functions using two econometric models: vector error correction and structural state space model for the period of...

The present research aims to analyze two archetypal 20th century development strategy cases: Brazil's and South Korea's. During the last century, both countries had been experiencing catching up processes, but by the 1980's Brazil started to lag behind while South Korea began to technologically...