TY - JOUR AU - Alencar, Douglas AU - Jayme Jr, Frederico G AU - Britto, Gustavo PY - 2021/09/24 Y2 - 2024/03/29 TI - A Post-Kaleckian model with productivity growth and real exchange rate applied to selected Latin American countries JF - PSL Quarterly Review JA - PSL QR VL - 74 IS - 297 SE - Articles DO - 10.13133/2037-3643/16603 UR - https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/16603 SP - 127-146 AB - <p>This paper aims to discuss the theory of productivity growth and its empirical applications, several authors emphasize the impact of real exchange rate devaluation on productivity. The main research question is: does the real exchange rate have a positive or negative impact on productivity growth? The first step in answering this question is to discuss productivity growth in the context of demand regimes. The second step consists of an empirical experiment that estimates the productivity growth equation for a sample of Latin American countries. The overall outcome is that the Kaldor–Verdoorn coefficient is significant for all the analysed countries, Argentina, Brazil, Bolivia, Chile, Colombia, Mexico, Uruguay and Venezuela. Regarding the real exchange rate and this variable squared, the parameters are negative for all the countries, indicating that real exchange rate devaluation does not increase productivity growth.</p><p> </p><div class="page" title="Page 1"><div class="layoutArea"><div class="column"><p><strong>JEL codes:</strong> O11, O15, O41</p><p> </p><p> </p></div></div></div> ER -