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Economic Growth and the Balance-of-Payments Constraint

  • J. S. L. McCombie
  • A. P. Thirlwall

Table of contents

  1. Front Matter
    Pages i-xxx
  2. J. S. L. McCombie, A. P. Thirlwall
    Pages 262-300
  3. J. S. L. McCombie, A. P. Thirlwall
    Pages 301-391
  4. J. S. L. McCombie, A. P. Thirlwall
    Pages 421-456
  5. J. S. L. McCombie, A. P. Thirlwall
    Pages 457-481
  6. J. S. L. McCombie, A. P. Thirlwall
    Pages 482-514
  7. Back Matter
    Pages 552-616

About this book

Introduction

'... 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.

Keywords

competition economic growth foreign trade growth growth model

Authors and affiliations

  • J. S. L. McCombie
    • 1
  • A. P. Thirlwall
    • 2
  1. 1.CambridgeUK
  2. 2.University of KentCanterburyUK

Bibliographic information