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. | |
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 |
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DOI/Identification number: | 10.1080/02692179700000001 |
Divisions: | Divisions > Division of Human and Social Sciences > School of Economics |
Depositing User: | Anthony Thirlwall |
Date Deposited: | 13 Mar 2017 16:22 UTC |
Last Modified: | 05 Nov 2024 10:54 UTC |
Resource URI: | https://kar.kent.ac.uk/id/eprint/60895 (The current URI for this page, for reference purposes) |
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