Thirlwall, A.P. (1979) The Balance of Payments Constraint as an Explanation of International Growth Rate Differences. Banca Nazionale del Lavoro Quarterly Review, 32 (128). pp. 45-53. ISSN 0005-4607. (The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided) (KAR id:60880)
| The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided. |
Abstract
The paper shows that if long-run balance of payments equilibrium on current account is a requirement then a country's long run growth rate can be approximated by the ratio of the growth of exports to the income elasticity of demand for imports. The model fits well the experience of eighteen OECD countries. It is output, not relative prices, that adjusts the balance of payments, contrary to the neoclassical orthodoxy. Growth can be demand constained by the balance of payments.
| Item Type: | Article |
|---|---|
| Divisions: | Divisions > Division of Human and Social Sciences > School of Economics |
| Depositing User: | Anthony Thirlwall |
| Date Deposited: | 13 Mar 2017 12:07 UTC |
| Last Modified: | 05 Nov 2024 10:54 UTC |
| Resource URI: | https://kar.kent.ac.uk/id/eprint/60880 (The current URI for this page, for reference purposes) |
University of Kent Author Information
Thirlwall, A.P..
| Creator's ORCID: |
 https://orcid.org/0000-0002-1661-2218
|
|---|---|
| CReDIT Contributor Roles: |
- Export to:
- RefWorks
- EPrints3 XML
- BibTeX
- CSV
- Depositors only (login required):
Download Statistics
Download Statistics
