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- W4244435401 abstract "This paper considers how Thirlwall’s balance-of-payments-constrained growth model has fared over the preceding 40 years. Issues dealt with include how the model fits into Harrod’s closed-economy dynamic model; whether the model is a tautology; the role of the exchange rate and terms of trade in influencing the long-run growth rate, and whether capital inflows make any difference to the long-run predictions of the model. The conclusion is that it is mainly the structure of production and trade that determines the long-run growth rate of countries, within a balance-of-payments equilibrium framework, as determinants of the income elasticities of demand for exports and imports." @default.
- W4244435401 created "2022-05-12" @default.
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- W4244435401 date "2021-04-23" @default.
- W4244435401 modified "2023-10-02" @default.
- W4244435401 title "Thoughts on balance-of-payments constrained growth after 40 years" @default.
- W4244435401 doi "https://doi.org/10.4337/9781800881471.00012" @default.
- W4244435401 hasPublicationYear "2021" @default.
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