Export-led stagnation in Paraguay
A time series approach

Donald G. Richards. [Autor]
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ISBN: --
CADEP
Paraguay -
2010

The purpose of this paper is to examine the influence of changing agricultural structure on the overall macroeconomic performance for Paraguay. Conventional neoclassical economic wisdom argues that macroeconomic performance is maximized when markets encourage countries to structure their exports according to the principle of comparative advantage. The alleged benefits of trade specialization are considered particularly important for small countries with narrow resource bases that are unable to efficiently meet their varied consumption needs.