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About this book
'... 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.
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Keywords
Table of contents (10 chapters)
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Front Matter
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Back Matter
Authors and Affiliations
About the authors
Author A.P. Thirlwall: Tony has lectured widely in developing countries and has been a consultant to several international agencies including the African Development Bank, the Asian Development Bank, the UN Conference on Trade and Development (UNCTAD) and the Pacific Islands Development Program in Hawaii. He has written a number of specialized texts in the field of development economics and is Series Editor of Palgrave's Great Thinkers in Economics collection.
Bibliographic Information
Book Title: Economic Growth and the Balance-of-Payments Constraint
Authors: J. S. L. McCombie, A. P. Thirlwall
DOI: https://doi.org/10.1007/978-1-349-23121-8
Publisher: Palgrave Macmillan London
eBook Packages: Palgrave Economics & Finance Collection, Economics and Finance (R0)
Copyright Information: J. S. L. McCombie and A. P. Thirlwall 1994
Hardcover ISBN: 978-0-312-10183-1Published: 11 January 1994
Softcover ISBN: 978-0-333-60112-9Published: 08 November 1993
eBook ISBN: 978-1-349-23121-8Published: 27 July 2016
Edition Number: 1
Number of Pages: XXX, 616
Topics: Macroeconomics/Monetary Economics//Financial Economics, International Economics, International Political Economy, Economic Growth