Thirlwall and balance of payments constrained growth

Research output: Contribution to journalArticle

67 Citations (Scopus)

Abstract

This paper outlines the theory which Thirlwall uses to determine the growth of domestic income and argues that crucial elements of this theory appear to be very weak. The empirical evidence presented by Thirlwall to support his argument for balance of payments constrained growth is considered.
LanguageEnglish
Pages17-32
Number of pages15
JournalApplied Economics
Volume17
Issue number1
DOIs
Publication statusPublished - 1985

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Balance of payments
Income
Empirical evidence

Keywords

  • growth of domestic income
  • domestic income
  • balance of payments constrained growth
  • foreign prices
  • domestic prices
  • Natural Rate Hypothesis
  • demand constrained growth
  • supply constrained growth
  • differential growth rates
  • developed nations
  • growth of export volume
  • domestic income elasticity
  • demand for imports.

Cite this

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title = "Thirlwall and balance of payments constrained growth",
abstract = "This paper outlines the theory which Thirlwall uses to determine the growth of domestic income and argues that crucial elements of this theory appear to be very weak. The empirical evidence presented by Thirlwall to support his argument for balance of payments constrained growth is considered.",
keywords = "growth of domestic income, domestic income, balance of payments constrained growth, foreign prices, domestic prices, Natural Rate Hypothesis, demand constrained growth, supply constrained growth, differential growth rates, developed nations, growth of export volume, domestic income elasticity, demand for imports.",
author = "P.G. McGregor and J.K. Swales",
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doi = "10.1080/00036848500000002",
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Thirlwall and balance of payments constrained growth. / McGregor, P.G.; Swales, J.K.

In: Applied Economics, Vol. 17, No. 1, 1985, p. 17-32.

Research output: Contribution to journalArticle

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KW - differential growth rates

KW - developed nations

KW - growth of export volume

KW - domestic income elasticity

KW - demand for imports.

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