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- W3123469968 abstract "This paper extends the balance-of-payments constraint on growth known as Thirlwall's law to incorporate unbalanced trade and debt accumulation. Assuming that small open economies face a liquidity constraint, the text shows the growth and real-exchange-rate policy rules consistent with a stable ratio of net exports to income. Given such rules, the text shows how the trade balance of a small open economy is residually determined by the ratio of foreign debt to income allowed by international conditions." @default.
- W3123469968 created "2021-02-01" @default.
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- W3123469968 date "2001-12-01" @default.
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- W3123469968 title "The balance-of-payments constraint:from balanced trade to sustainable debt" @default.
- W3123469968 hasPublicationYear "2001" @default.
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