In the last chapter the importance of raising the rate of growth of exports was emphasised for the maintenance of balance-of-payments equilibrium at a permanently higher growth rate. If a continuous improvement in relative price competitiveness is ruled out as being unattainable, the major determinant of the growth of exports is the income elasticity of demand for exports, for any given growth of world income.


Depression Europe Income Dition 


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Copyright information

© A. P. Thirlwall 1986

Authors and Affiliations

  • A. P. Thirlwall
    • 1
  1. 1.University of KentCanterburyUK

Personalised recommendations