Mario Cimoli, José Antonio Ocampo and Gabriel Porcile

Author Archive | Mario Cimoli, José Antonio Ocampo and Gabriel Porcile


Choosing sides in the trilemma: international financial cycles and structural change in developing economies

This paper analyzes the impact of international financial cycles on structural change in developing economies. It is argued that the impact of these cycles depend on the specific combination of  macroeconomic and industrial policies adopted by the developing economy. The cases of Brazil and Argentina are contrasted with those of Korea and China. In the […]

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Financial Cycles and the Macroeconomic Dynamics of Developing Economies

This paper discusses the impact of financial cycles on the macroeconomic dynamics of developing economies. The main argument is that these cycles have a strong impact on key macroeconomic prices―in particular the real exchange rate―heightening external disequilibrium. The combination of an appreciated currency with subsequent external crises compromises investment, and therefore the accumulation of production […]

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