Titlebook: Economic Growth and the Balance-of-Payments Constraint; J. S. L. McCombie,A. P. Thirlwall Book 1994 J. S. L. McCombie and A. P. Thirlwall

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Economic Growth, the Harrod Foreign Trade Multiplier and the Hicks Super-Multiplier,ies has been seriously constrained by the growth of factor supplies. Even during the ‘long boom’ of 1950–73, when the growth of output of the advanced countries in aggregate was double that of the historic norm, labour shortages were never a limiting factor. There was either sufficient disguised une

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Export-Led Growth and the Balance-of-Payments Constraint,ort growth can lift a balance-of-payments constraint on demand and therefore permit faster growth if factor supplies are available to be utilised. The second is that export growth may create a virtuous circle of growth by virtue of the link between output growth and productivity growth. A number of

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Two Case Studies of Balance-of-Payments Constrained Growth: The UK and Australia,nts equilibrium growth rate approximates to the actual growth rate of that country. Using data from highly aggregated export and import demand functions, we concluded in Chapter 3 that for the vast majority of countries there was no significant difference between the two growth rates. From this we d