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Full Description
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.
Contents
Introduction PART I: HISTORICAL OVERVIEW ON THE BALANCE OF PAYMENTS CONSTRAINED GROWTH DEBATE Balance of Payments Constrained Growth Models: History and Overview; A.P.Thirlwall Criticisms and Defences of the Balance-of-Payments Constrained Growth Model: Some Old, Some New; J.McCombie The Remarkable Durability of Thirlwall's Law; M.Setterfield PART II: ALTERNATIVE MODELS AND EMPIRICAL EVIDENCE Generalized Balance of Payments Constrained Growth and South-South Trade in Sub-Saharan Africa; A.Bagni , A.Rieber & T.Tran Growth Rates Constrained by Internal and External Imbalances: A Demand Orientated Approach; E.Soukiazis , P.Cerqueira & M.Antunes Empirical Testing of the Export-Led and Balance of Payments Constrained Growth: The Case of Portugal; V.Kvedaras PART III: THE CONVERGENCE ISSUE AND THE ROLE OF EXCHANGE RATE ON BALANCE OF PAYMENTS CONSTRAINED GROWTH Convergence and Balance of Balance of Payments Constrained Growth: Is there a Puzzle? C.Garcimartin , J.Alonso & L.Rivas New Insights from a Structural Economic Dynamic Approach to Balance of Payments Constrained Growth; R.Araujo Structural Heterogeneity and Endogeneity of Elasticities on the Balance of Payments Constrained Growth Model; F.Missio & F.Jayme Jnr
