ISBN:
9781800881471
Language:
English
Pages:
1 Online-Ressource (144 Seiten)
Parallel Title:
Erscheint auch als
Keywords:
Thirlwall, Anthony P.
;
Thirlwall, A. P
;
Wirtschaftswachstum
;
Außenwirtschaftliches Gleichgewicht
;
Außenhandelselastizität
;
Ökonomische Ideengeschichte
;
Wachstumstheorie
;
Außenwirtschaftstheorie
;
Economic development
;
Keynesian economics
;
Electronic books
;
Aufsatzsammlung
Abstract:
Contents: Symposium: Thirlwall's law at 4.0 thirlwall's law at 40 / Esteban Pérez Caldentey and Matías Vernengo -- Why thirlwall's law is not a tautology: More on the debate over the law / J.S.L. -- Mccombie endogenous growth, capital accumulation and thirlwall's dynamics: The case of Latin America / Ignacio Perrotini-Hernández and Juan Alberto Vázquez-Muñoz -- Thirlwall's law and the terms of trade: A parsimonious extension of the balance-of-payments-constrained growth model / Esteban Pérez Caldentey and Juan Carlos Moreno-Brid -- Thirlwall's law, external debt sustainability, and the balance-ofpayments- constrained level and growth rates of output / Gustavo Bhering, Franklin Serrano and Fabio Freitas -- Growth transitions and the balance-of-payments constraint / Excellent Mhlongo and Kevin S. Nell -- New structuralism and the balance-of-payments constraint / Gabriel Porcile and Giuliano Toshiro Yajima -- Is indonesia's growth rate balance-of-payments-constrained? A timevarying estimation approach / Jesus Felipe, Matteo Lanzafame and Gemma Estrada -- Thoughts on balance-of-payments-constrained growth after 40 years / A.P. Thirlwall.
Abstract:
"2019 marked the 40th anniversary of the publication of Anthony P. Thirlwall's classic paper that laid out what became known as Thirlwall's law. This article introduced and provided empirical evidence in favor of the proposition that the long-run rate of growth of an economy compatible with balance-of-payments equilibrium can be approximated by the simple rule of the ratio of the growth of exports to the income elasticity of demand for imports. Thirlwall's law provides a theoretical underpinning for several of the arguments traditionally espoused by the heterodox followers of Keynes. In addition, Thirlwall's law can also be viewed as a guide to policy-making. It has spurred a rich research agenda at both the theoretical and empirical levels. Theoretically the core model has been extended to include the different components of the current account of the balance of payments. Empirically, it has withstood the test of time and has been corroborated, with perhaps a few exceptions, for a variety of developed and developing countries under different historical contexts and different periods of time. This re-release of the special issue of the Review of Keynesian Economics brings together experts and researchers to present the latest developments and debates on Thirlwall's law. Students, economists and policy makers will find this volume enlightening"--
DOI:
10.4337/9781800881471
URL:
Volltext
(lizenzpflichtig)
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