11 resultados para Evolutionary path-relinking

em Comissão Econômica para a América Latina e o Caribe (CEPAL)


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Includes bibliography

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The microfoundations of economic models are a hotly debated topic in the literature. The debate is important because microfoundations —the ways in which agents decide and behave— have implications that go beyond a specific firm, market or activity; they strongly condition macroeconomic outcomes. This document addresses the classical problems of rationality, uncertainty and institutions: when there is Keynes-Knight uncertainty and rationality is bounded, decision making adopts the form of conventional rules or heuristics. The hyper-rational representative agent of the rational expectations world could generate highly misleading outcomes in macro models. Section 2 applies this discussion to the study of technical change and to innovation and diffusion of technology in the international system, which transform the patterns of specialization. Section 3 discusses the forces that may trap a country in a low-growth trap and the crucial role of institutions in escaping from this trap.

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The Economic Commission for Latin America and the Caribbean (ECLAC), Subregional Headquarters for the Caribbean, and secretariat of the Caribbean Development and Cooperation Committee (CDCC) convened a Seminar on Caribbean Development Thinking: The Path Covered and the Way Forward, in Port of Spain on 21 October 2009. The meeting was attended by representatives of the following CDCC member countries: Dominica, Grenada, Guyana, Jamaica, Saint Lucia, Saint Kitts and Nevis, Saint Vincent and the Grenadines, Suriname and Trinidad and Tobago. Representatives of the following organizations of the United Nations system also attended: the International Labour Organisation (ILO); Joint United Nations Project on HIV/AIDS (UNAIDS); and the United Nations Development Programme (UNDP). The following intergovernmental organizations were represented: the Caribbean Community (CARICOM); the Caribbean Development Bank (CDB); the Caribbean Regional Negotiating Mechanism/Caribbean Community (CRNM/CARICOM); Delegation of the European Commission in Trinidad and Tobago; the Organisation of American States (OAS); and the Organisation of Eastern Caribbean States (OECS). The University of the West Indies (UWI) also participated. The list of participants appears as annex I to this report.