Balance of Payments Constrained Growth
GPTKB entity
Statements (28)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:economic_policy
|
| gptkbp:alsoKnownAs |
gptkb:Thirlwall's_Law
|
| gptkbp:appliesTo |
open economies
|
| gptkbp:assumes |
current account equilibrium
no capital flows |
| gptkbp:citation |
academic literature on growth and development
|
| gptkbp:contrastsWith |
neoclassical growth models
|
| gptkbp:describes |
relationship between economic growth and balance of payments
|
| gptkbp:emphasizes |
external constraints on growth
|
| gptkbp:focusesOn |
long-run economic growth
|
| gptkbp:form |
g = (π/ε) y*
|
| https://www.w3.org/2000/01/rdf-schema#label |
Balance of Payments Constrained Growth
|
| gptkbp:influenced |
policy debates on export-led growth
|
| gptkbp:location |
g = growth rate of GDP
y* = world income growth rate ε = income elasticity of demand for imports π = income elasticity of demand for exports |
| gptkbp:proposedBy |
gptkb:Anthony_Thirlwall
1979 |
| gptkbp:relatedTo |
structuralist economics
export performance foreign exchange constraints import demand |
| gptkbp:state |
growth is constrained by the balance of payments equilibrium
|
| gptkbp:usedIn |
development economics
macroeconomics |
| gptkbp:bfsParent |
gptkb:Thirlwall's_Law
|
| gptkbp:bfsLayer |
8
|