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.
Balance Of Payments And Economic Growth
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Author : John M. Letiche
language : en
Publisher:
Release Date : 1959
Balance Of Payments And Economic Growth written by John M. Letiche and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1959 with Balance of payments categories.
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.
The Balance Of Payments Constrained Growth Model And The Limits To Export Led Growth
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Author : Robert A. Blecker
language : en
Publisher:
Release Date : 2017
The Balance Of Payments Constrained Growth Model And The Limits To Export Led Growth written by Robert A. Blecker and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
This paper discusses how A. P. Thirlwall's model of balance-of-payments-constrained growth can be adapted to analyze the idea of a “fallacy of composition” in the export-led growth strategy of many developing countries. The Deaton-Muellbauer model of the Almost Ideal Demand System (AIDS) is used to represent the adding-up constraints on individual countries' exports, when they are all trying to export competing products to the same foreign markets (i.e. newly industrializing countries are exporting similar types of manufactured goods to the OECD countries). The relevance of the model to the recent financial crises in developing countries and policy alternatives for redirecting development strategies are also discussed.
Capital Flows Interest Payments And The Balance Of Payments Constrained Growth Model
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Author : Juan Carlos Moreno-Brid
language : en
Publisher:
Release Date : 2003
Capital Flows Interest Payments And The Balance Of Payments Constrained Growth Model written by Juan Carlos Moreno-Brid and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.
The analytical framework known as the balance-of-payments constrained growth model introduced by Anthony P. Thirlwall more than two decades ago, and further developed by him and N. Hussain, was a major contribution to understanding the relevance of a foreign exchange constraint on the long-run growth performance of open economies. In its simplest expression this model is known as Thirlwall's law. Recent contributions have revised this analytical model in order to ensure that the pattern of foreign debt accumulation, implicit in the economy's balance-of-payments constrained growth path, is sustainable. Up to now most theoretical presentations of Thirlwall's law do not incorporate interest payments explicitly and, moreover, the empirical studies carried out within this tradition do not take them into account. This omission may be a major shortcoming in the analysis of the long-term growth path of economies - like many developing ones - whose net interest payments abroad are a large debit item in the current account of their balance of payments. In the present paper we introduce an extension of the balance-of-payments constrained growth model that explicitly captures the influence on foreign interest payments of the economy's long-run rate of growth - while at the same time guaranteeing that foreign indebtedness is not on an explosive track - and test its empirical adequacy by applying it to examine the Mexican case.
Balance Of Payments Constrained Growth In Developing Countries
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Author : Dillon Alleyne
language : en
Publisher:
Release Date : 2008
Balance Of Payments Constrained Growth In Developing Countries written by Dillon Alleyne and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
The paper clarifies some issues raised in the basic model of balance of payments-constrained growth due to Thirlwall and later extensions by Thirlwall and Hussain and Moreno-Brid. The model is also adapted to include both interest payments and net transfers. The latter variable has become very important to many developing countries and brings a new dimension to the analysis. Very importantly, net transfers are positively related to foreign income and negatively related to domestic income. Thus, the paper accounts for dynamic feedback effects, between net transfers, domestic and world income.
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 Compilation Guide
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1995-03-15
Balance Of Payments Compilation Guide 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 1995-03-15 with Business & Economics categories.
A companion document to the fifth edition of the Balance of Payments Manual, the Balance of Payments Compilation Guide shows how the conceptual framework described in the Manual may be implemented in practice. The primary purpose of the Guide is to provide practical guidance for using sources and methods to compile statistics on the balance of payments and the international investment position. the Guide is designed to assist balance of payments compilers and statisticians in understanding the relative strengths and weaknesses of various approaches. The material reflects the emergence of new data sources and adaptations in the application of statistical methodologies to changing circumstances. Discussed in the Guide are all of the tasks that a BOP compiler normally performs. Appendices contain a set of model BOP questionnaires and a set of model BOP publication tables. Relationships between the balance of payments statistics and relevant aspects of national accounts are covered as well.