Statements (23)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:economic_policy
|
| gptkbp:alsoKnownAs |
gptkb:Balance_of_Payments_Constrained_Growth
|
| gptkbp:appliesTo |
open economies
|
| gptkbp:citation |
academic literature on economic development
|
| gptkbp:contrastsWith |
gptkb:neoclassical_growth_theory
|
| gptkbp:describes |
relationship between economic growth and balance of payments
|
| gptkbp:focusesOn |
external constraints on growth
|
| gptkbp:form |
g = (ε/π) * x
|
| https://www.w3.org/2000/01/rdf-schema#label |
Thirlwall's Law
|
| gptkbp:influenced |
policy debates on trade and growth
|
| gptkbp:location |
g = growth rate of GDP
x = growth rate of exports ε = income elasticity of demand for exports π = income elasticity of demand for imports |
| gptkbp:proposedBy |
gptkb:Anthony_Thirlwall
1979 |
| gptkbp:relatedTo |
export-led growth
balance of payments equilibrium |
| gptkbp:state |
long-run growth rate of an economy is determined by the ratio of export growth to the income elasticity of demand for imports
|
| gptkbp:usedIn |
development economics
macroeconomics |
| gptkbp:bfsParent |
gptkb:Anthony_Thirlwall
|
| gptkbp:bfsLayer |
7
|