Essays on Balance of Payments Constrained Growth Theory and Evidence [Paperback]

There are many theories concerning the relationship between the pace of development and economic growth in different countries. This impressive collection explores the relationship between a country's balance of payments and their rate of economic growth. The evidence and ramifications within the book will be of interest to economists and policy-makers in developing countries.

1  Introduction (J.S.L. McCombie & A.P. Thirlwall)

Part 1: Theory

2. The balance of payments constraint as an explanation of international growth rate differences (A.P. Thirlwall)

3. The balance of payments constraint, capital flows and growthrate differences between developing countries (A.P. Thirlwall & M. Nureldin Hussein)

4. Economic growth, the Harrod foreign trade multiplier andthe Hicks super-multiplier (J.S.L. McCombie

5. Economic growth, trade interlinkages, and thebalance of payments constraint (J.S.L. McCombie)

6. International competitiveness, relative wages, and thebalance of payments constraint (Robert A. Blecker)

7. The stability of Thirlwalls model of economic growth andthe balance of payments constraint (Maurizio Pugno)

8. The balance of payments constraint (Nelson H. Barbosa-Filho)

Part 2: Developed countries

9. On the empirics of balance of payments constrained growth (J.S.L. McCombie)

10. The 45? rule revisited (P.S. Andersen)

11. A new approach to the balance of payments constraint (Jos? A. Alonso & Carlos Garcimart?n)

12. An application of Thirlwalls Law to the Spanish economy (Miguel Le?n-Ledesma)

Part 3: Developing countries

13. Balance of payments constrained growth and developingcountries (Jonathan Perraton)

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