Essays on Balance of Payments Constrained Growth: Theory and Evidence (Routledge Studies in Development Economics, 37)

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. Book Cover......Page 1 Title......Page 6 Copyright......Page 7 Contents......Page 8 List of figures......Page 11 List of tables......Page 13 List of contributors......Page 16 Acknowledgements......Page 18 1 Introduction......Page 20 2 The balance of payments constraint as an explanation of international growth rate differences......Page 40 3 The balance of payments constraint, capital flows and growth rate differences between developingcountries......Page 47 4 Economic growth, the Harrod foreign trade multiplier and the Hicks super-multiplier......Page 59 5 Economic growth, trade interlinkages, and the 5 Economic growth, trade interlinkages, and the......Page 77 6 International competitiveness, relative wages, and the 6 International competitiveness, relative wages, and the......Page 103 7 The stability of Thirlwall’s model of economic growth and 7 The stability of Thirlwall’s model of economic growth and......Page 127 8 The balance of payments constraint......Page 145 9 On the empirics of balance of payments constrained growth......Page 162 10 The 45- Rule revisted......Page 183 11 A new approach to the balance of payments constraint......Page 193 12 An application of Thirlwall’s Law to the Spanish economy......Page 213 13 Balance of payments constrained growth and developing countries......Page 222 14 The balance of payments constraint and growth rate differences among African and East Asian Economies......Page 239 15 The chronicle of economic growth in Southeast Asian countries......Page 264 16 Thirlwall’s Law and beyond: the Latin American experience......Page 274 17 Balance of payments constrained growth in Central America......Page 288 18 Balance of payments constrained economic growth......Page 300 19 A ‘generalised’ version of the balance of payments growth model......Page 314 Bibliography......Page 331 Index......Page 348