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The Dynamic Harrod Foreign Trade Multiplier and the Demand-orientated Approach to Economic Growth: an Evaluation

McCombie, J. S. L., Thirlwall, A.P. (1997) The Dynamic Harrod Foreign Trade Multiplier and the Demand-orientated Approach to Economic Growth: an Evaluation. International Review of Applied Economics, 11 (1). pp. 5-26. ISSN 0269-2171. E-ISSN 1465-3486. (doi:10.1080/02692179700000001) (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:60895)

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. (Contact us about this Publication)
Official URL
https://doi.org/10.1080/02692179700000001

Abstract

This paper puts forward a demand-orientated model of economic growth, as an alternative to the supply-orientated approach of neoclassical theory, and evaluates the extensive research testing the dynamic Harrod trade multiplier model developed by Thirlwall and extended by McCombie. It is critical of the continued dismissal of demand constraints as an explanation of inter-country growth rate differences in the models of McGregor & Swales, Crafts, Krugman, etc., and in the ‘new’ growth theory literature, although it is sympathetic to the rehabilitation of the role increasing returns for an understanding of cumulative processes which make for divisions in the world economy.

Item Type: Article
DOI/Identification number: 10.1080/02692179700000001
Divisions: Faculties > Social Sciences > School of Economics
Depositing User: Anthony Thirlwall
Date Deposited: 13 Mar 2017 16:22 UTC
Last Modified: 08 Feb 2020 04:09 UTC
Resource URI: https://kar.kent.ac.uk/id/eprint/60895 (The current URI for this page, for reference purposes)
Thirlwall, A.P.: https://orcid.org/0000-0002-1661-2218
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