English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Global: Zendy Plus annual

Presents the access of premium content as premium feature

Premium Content

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Global: Zendy Tools annual

Global: Zendy Free Plan

Global: Zendy Tools monthly

Global: Zendy Plus monthly

The objective of this article is to present a post-keynesian macrodynamic model in order to analyze the effects of the liberalization of capital account over the economic performance of developing economies. In this setting, comparative static analysis show that an increase in the level of external debt can have positive effects for the economy in the short-run, since it induces an increase in the level of capacity utilization and the growth rate of capital stock. However, long-run dynamics show that, under certain conditions, the access to international capital markets can generate explosive paths for the economic system, mainly if monetary policy is conducted under a Inflation Targeting Regime. Besides that, it was show that a reduction in the target rate of inflation can generate a permanent increase in the level of interest rate as well as an increase in the level of external debt, which will increase the external fragility of the economy at hand.

análise econômica

ACUMULAÇÃO DE CAPITAL, ABERTURA FINANCEIRA E ENDIVIDAMENTO EXTERNO: UM MODELO MACRODINÂMICO PÓS-KEYNESIANO COM CÂMBIO FLEXÍVEL E MOBILIDADE DE CAPITAIS