Abstract
In the last chapter the importance of raising the rate of growth of exports was emphasised for the maintenance of balance-of-payments equilibrium at a permanently higher growth rate. If a continuous improvement in relative price competitiveness is ruled out as being unattainable, the major determinant of the growth of exports is the income elasticity of demand for exports, for any given growth of world income.
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© 1986 A. P. Thirlwall
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Thirlwall, A.P. (1986). Export-led Growth. In: Balance-of-Payments Theory and the United Kingdom Experience. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-18390-6_11
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DOI: https://doi.org/10.1007/978-1-349-18390-6_11
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-0-333-42109-3
Online ISBN: 978-1-349-18390-6
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