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Models Of Balance Of Payments Constrained Growth

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Economic Growth And The Balance Of Payments Constraint

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Author : John McCombie
language : en
Publisher: Springer
Release Date : 2016-07-27

Economic Growth And The Balance Of Payments Constraint written by John McCombie and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-27 with Business & Economics categories.

'... a well written book ... covering ... a vast amount of material ... well balanced between the theoretical and applied works. The authors are judicious and fair in providing a balanced treatment of the two alternative theories of growth performance: supply-oriented and demand-oriented. The book will serve as a guideline to researchers and policymakers ... as a textbook for upperdivision undergraduate and graduate courses.'- Kashi Nath Tiwari, Kennesaw State College This is the first book of its kind to argue in a consistent and comprehensive way the idea that a country's growth performance cannot be properly understood without reference to the performance of its tradeable goods sector and the strength of its balance of payments. It puts forward a demand orientated theory of why growth rates differ between countries where the major constraint on demand is the balance of payments. The book is critical of neoclassical growth analysis and provides an alternative theory of growth performance to the supply orientated approach of neoclassical theory. There are theoretical chapters comparing and contrasting neoclassical growth analysis with the new demand orientated approach, and empirical sections which apply the new model to regions and countries, including two case studies of the UK and Australia.

Models Of Balance Of Payments Constrained Growth

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Author : E. Soukiazis
language : en
Publisher: Springer
Release Date : 2012-10-15

Models Of Balance Of Payments Constrained Growth written by E. Soukiazis and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-10-15 with Business & Economics categories.

This book extends Thirlwall's model and adapts its implications to the current problems facing developed and emerging economies. In this context, this book combines theoretical models and empirical applications, unveiling new results and highlighting the importance of the balance of payments as a constraint to growth.

Essays On Balance Of Payments Constrained Growth

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Author : John McCombie
language : en
Publisher: Routledge
Release Date : 2004-03-26

Essays On Balance Of Payments Constrained Growth written by John McCombie and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-03-26 with Business & Economics categories.

This impressive collection explores the relationship between a country's balance of payments and their rate of economic growth.

Structural Economic Dynamics

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Author : Luigi Pasinetti
language : en
Publisher: Cambridge University Press
Release Date : 2006-11-02

Structural Economic Dynamics written by Luigi Pasinetti and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-11-02 with Business & Economics categories.

This book is a theoretical investigation of the influence of human learning on the development through time of a 'pure labour' economy. The theory proposed is a simple one, but aims to grasp the essential features of all industrial economies. Economists have long known that two basic phenomena lie at the root of long-term economic movements in industrial societies: capital accumulation and technical progress. Attention has been concentrated on the former. In this book, by contrast, technical progress is assigned the central role. Within a multi-sector framework, the author examines the structural dynamics of prices, production and employment (implied by differentiated rates of productivity growth and expansion of demand) against a background of 'natural' relations. He also considers a number of institutional problems. Institutional and social learning, know-how, and the diffusion of knowledge emerge as the decisive factors accounting for the success and failure of industrial societies.

Models Of Balance Of Payments Constrained Growth

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Author : E. Soukiazis
language : en
Publisher: Springer
Release Date : 2012-10-15

Thirlwall S Law At 40

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Author : Thomas Palley
language : en
Publisher: Edward Elgar Publishing
Release Date : 2021-04-30

Thirlwall S Law At 40 written by Thomas Palley and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-04-30 with Business & Economics categories.

2019 marked the 40th anniversary of the publication of Anthony P. Thirlwall’s classic paper that laid out what became known as Thirlwall’s law. This article introduced and provided empirical evidence in favor of the proposition that the long-run rate of growth of an economy compatible with balance-of-payments equilibrium can be approximated by the simple rule of the ratio of the growth of exports to the income elasticity of demand for imports.

Balance Of Payments Textbook

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1996-04-15

Balance Of Payments Textbook written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-04-15 with Business & Economics categories.

The Balance of Payments Textbook, like the Balance of Payments Compilation Guide, is a companion document to the fifth edition of the Balance of Payments Manual. The Textbook provides illustrative examples and applications of concepts, definitions, classifications, and conventions contained in the Manual and affords compilers with opportunities for enhancing their understanding of the relevant parts of the Manual. The Textbook is one of the main reference materials for training courses in balance of payments methodology.

Beyond Reforms

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Author : Jose Antonio Ocampo
language : en
Publisher: World Bank Publications
Release Date : 2005-07-15

Beyond Reforms written by Jose Antonio Ocampo and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-07-15 with Business & Economics categories.

'Beyond Reforms' argues that economic growth in developing countries is intrinsically tied to the dynamics of production structures, to the specific policies and institutions created to support it, and the creation of linkages among domestic firms and sectors. Avoiding macroeconomic instability is also essential. However, macroeconomic stability is not a sufficient condition for growth. The broader institutional context and the adequate provision of education and infrastructure are essential 'framework conditions,' but generally do not play a direct role in bringing about changes in the momentum of economic growth.

Balance Of Payments Constrained Economic Growth In Nigeria

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Author : Emmanuel Igbinoba
language : en
Publisher: GRIN Verlag
Release Date : 2015

Balance Of Payments Constrained Economic Growth In Nigeria written by Emmanuel Igbinoba and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Business & Economics categories.

Essay from the year 2014 in the subject Business economics - General, language: English, abstract: This paper assesses the Thirwall's balance of payment(BOP) constrained model by applying it on the Nigerian economy and employing cointegration method to observe the relationship between economic growth and current account balance equilibrium. While extensive research study on economic growth concentrate on the neoclassical supply-oriented approach based on the production function and full employment, Harrod(1939) emphasized that demand generated growth determine long run economic growth and Thirwall developed a Keynesian perspective of the determinants of growth embedded on a dynamic version of the Harrod's foreign trade multiplier. Thirwall pinpoints the incapability of economic agents to increase aggregate demand indefinitely in open economies as justification for income growth differences across nations. The balance of payment constrained growth model states that a country's economic growth rate is constrained by the desire to generate foreign exchange and reiterate the function of demand as the motivation for domestic growth. This arises because growth in export and investment growth in import substitution are the only aspect of aggregate demand that can increase GDP growth and reduce foreign constraints. This implies that growth rate is constrained by the balance of payment as the economy cannot grow faster than what is consistent with the balance of payment equilibrium. The principle of this Keynesian demand side growth theory is that export capability and import attitude establish long run economic growth. Income derived from external trade constitute the principal medium to finance growing import due to a rise in domestic activities. This model differ from the supply induced growth models which evaluate economic growth by using factor inputs such as savings, human and physical capital, population growth and initial per capital GDP on economic growth. Reserva

Growth And Economic Development

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Author : P. Arestis
language : en
Publisher: Edward Elgar Publishing
Release Date : 2007-01-01

Growth And Economic Development written by P. Arestis and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-01-01 with Business & Economics categories.

. . . this volume is a very good and important addition to economic growth and development. On the basis of authority, the selection is well-balanced. . . This book should be a mandatory textbook for graduate students in development economics, and essential reading for all policy-makers. Voxi Heinrich Amavilah, Progress in Development Studies This valuable and engaging new book bears eloquent testimony to A.P. Thirlwall s substantial contribution to economics over the last 40 years. The volume does not attempt to provide a comprehensive review of such a prolific figure, but rather demonstrates the considerable influence that his work on economic theory has had on his contemporaries, and the profession as a whole. From his early pioneering research in regional and labour economics to his more recent exploration of growth and development economics, leading experts in the field bear witness to the significant role he has played in the evolution of the discipline. In addressing some of the most pivotal aspects of his career, the contributors cover a range of topics including Thirlwall s Law , the application of Keynesian macroeconomic approaches, the General Theory within open economies, the connection between short-run cycles and long-run growth, endogenous growth theory, the Stability and Growth Pact, as well as broader development issues and problems. In championing Thirlwall s challenging work, this volume provides a lively and comprehensive account of some of the most important areas of economics today. This book will prove an essential read for academics and policy makers alike who are interested in trade, growth and development economics.

Models Of Balance Of Payments Constrained Growth

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