Skip to main content
SpringerLink
Log in
SpringerLink
Log in

Balance of Payments Constrained Growth Models: History and Overview

  • Chapter
Models of Balance of Payments Constrained Growth

Abstract

Thiriwall’s 1979 balance of payments constrained growth model predicts that a country’s long-run growth of GDP can be approximated by the ratio of the growth of real exports to the income elasticity of demand for imports assuming negligible effects from real exchange rate movements.1 This chapter surveys developments of the model since then allowing for capital flows, interest payments on debt, terms of trade movements and disaggregation of the model by commodities and trading partners. Various tests of the model are discussed, and extensive lists of papers that have examined the model are presented.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 84.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 109.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 109.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  • Alleyne, D., and A.A. Francis (2008) “Balance of Payments Constrained Growth in Developing Countries: A Theoretical Perspective”, Metroeconomica, 59(2), 189–202.

    Article  Google Scholar 

  • Alonso, J.A. (1999) “Growth and the External Constraint: Lessons from the Spanish Case”, Applied Economics, 31(2), 245–53.

    Article  Google Scholar 

  • Alonso, J.A., and C. Garcimartin (1998–99) “A New Approach to Balance of Payments Constraint: Some Empirical Evidence”, Journal of Post Keynesian Economics, 21(2), 259–82.

    Article  Google Scholar 

  • Alvarez-Ude, G.F., and D.M. Gomez (2008) “Long- and Short-Run Balance of Payments Adjustment: Argentine Economic Growth Constrained”, Applied Economics Letters, 15(10), 815–20.

    Article  Google Scholar 

  • Anderson, P.S. (1993) “The 45-degree Rule Revisited”, Applied Economics, October.

    Google Scholar 

  • Antunes, M., and E. Soukiazis (2012) “Application of the Balance of Payments Constrained Growth Model to Portugal 1965–2008”, Journal of Post Keynesian Economics 34(2), 353–79.

    Google Scholar 

  • Ansari, M., Hashemzadeh and L. Xi (2000) “The Chronicle of Economic Growth in South East Asian Countries: Does Thirlwall’s Law Provide an Adequate Explanation?” Journal of Post Keynesian Economics, 22(4), 57–385.

    Article  Google Scholar 

  • Araujo, R.A., and G. Lima (2007) “A Structural Economic Dynamics Approach to Balance of Payments Constrained Growth”, Cambridge Journal of Economics, 31(5), 755–74.

    Article  Google Scholar 

  • Atesoglu, H.S. (1993) “Balance of Payments Constrained Growth: Evidence from the United States”, Journal of Post Keynesian Economics, 15(4), 507–14.

    Article  Google Scholar 

  • Atesoglu, H.S. (1993–94) “Exports, Capital Flows, Relative Prices and Economic Growth in Canada”, Journal of Post Keynesian Economics, 16(2), 289–97.

    Article  Google Scholar 

  • Atesoglu, H.S. (1994) “Balance of Payments Determined Growth in Germany”, Applied Economic Letters, 1(6), 89–91.

    Article  Google Scholar 

  • Atesoglu, H.S. (1997) “Balance of Payments Constrained Growth Model and Its Implications for the United States”, Journal of Post Keynesian Economics, 19(3), 327–35.

    Article  Google Scholar 

  • Bagnai, A. (2010) “Structural Changes, Cointegration and the Empirics of Thirlwall’s Law”, Applied Economics, 42(10), 1315–29.

    Article  Google Scholar 

  • Bairam, E. (1988) “Balance of Payments, the Harrod Trade Multiplier and Economic Growth: The European and North American Experience 1970–1985”, Applied Economics, 20(12), 1635–42.

    Article  Google Scholar 

  • Bairam, E. and G.J. Dempster (1991) “The Harrod Foreign Trade Multiplier and Economic Growth”, Applied Economics, 23(11), 1719–24.

    Article  Google Scholar 

  • Barbosa-Filho, N. (2001) “The Balance of Payments Constraint: From Balanced Trade to Sustainable Debt”, Banca Nazionale del Lavoro QuarterlyReview, 54(219), 381–400.

    Google Scholar 

  • Barrett Whale, P. (1932) International Trade (London: Thornton Butterworth).

    Google Scholar 

  • Barrett Whale, P. (1937) “The Workings of the Pre-War Gold Standard”, Economica, 4(13), 18–32

    Article  Google Scholar 

  • Beko, J. (2003) “The Validity of the Balance of Payments Constrained Growth Model for a Small Open Economy in Transition: the Case of Slovenia”, Journal of Post Keynesian Economics, 26(1), 69–93.

    Google Scholar 

  • Bertola, L., H. Higachi and G. Porcile (2002) “Balance of Payments Constrained Growth in Brazil: A Test of Thirlwall’s Law 1890–1973”, Journal ofPost Keynesian Economics, 25(1), 123–40

    Google Scholar 

  • Boggio, L., and G. Seravilli (2002) “Is the Natural Rate of Growth Exogenous? A Comment”, Banca Nazionale del Lavoro Quarterly Review, 55(221), 219–27

    Google Scholar 

  • Britto, G., and J.S.L. McCombie (2009) “Thirlwall’s Law and the Long-Run Equilibrium Growth Rate: An Application to Brazil”, Journal of Post Keynesian Economics, 32(1), 115–36.

    Article  Google Scholar 

  • Carvalho, V.R., G. Lima and A. Santos (2008) “A Restricao Externa Como Fator Limitante do Crescimento Brasileiro: um Teste Empirica”, Revista Economia, 9(2), 285–307.

    Google Scholar 

  • Carvalho, V.R., and G. Lima (2009) “A Restricao Externa e a Perda de Dinamismo da Economia Brasileira: Investigando as Relacoes Entra Estructura Produtiva e Crescimento Economics”, Economia e Sociedade, 18(1), 31–60.

    Article  Google Scholar 

  • Chenery, H., and M. Bruno (1962) “Development Alternatives in an Open Economy: The Case of Israel”, Economic Journal, 72(285), 79–103.

    Article  Google Scholar 

  • Christopoulos, D., and E. Tsionas (2003) “A Reassessment of Balance of Payments Constrained Growth: Results from Panel Unit Root and Panel Cointegration Tests”, International Economic Journal, 17(3), 39–54.

    Article  Google Scholar 

  • Cimoli, M. (1988) “Technological Gaps and Institutional Asymmetries in a North-South Model with a Continuum of Goods”, Metroeconomica, October, 245–74

    Google Scholar 

  • Cimoli, M., G. Porcile and S. Rovira (2010) “Structural Change and the BOP Constraint : Why Did Latin America Fail to Converge?” Cambridge Journal of Economics, 34(6), 1019–39.

    Article  Google Scholar 

  • Cooper, R.N. (1982) “The Gold Standard: Historical Facts and Future Prospects” in Brookings Papers on Economic Activity 1 (Washington, DC: Brookings Institute), 1–45.

    Google Scholar 

  • Dixon, R.J., and A.P. Thirlwall (1975a) “A Model of Regional Growth Rate Differences on Kaldorian Lines”, Oxford Economic Papers 27(2), 201–14.

    Google Scholar 

  • Dixon, R.J., and A.P. Thirlwall (1975b) Regional Growth and Unemployment in the United Kingdom (London: Macmillan).

    Book  Google Scholar 

  • Dray, M., and A.P. Thirlwall (2011) “The Endogeneity of the Natural Rate of Growth for a Selection of Asian Countries”, Journal of Post Keynesian Economics, 33(3), 451–68.

    Article  Google Scholar 

  • Dutt, A.K. (2002) “Thirlwall’s Law and Uneven Development”, Journal of Post Keynesian Economics, 24(3), 367–90.

    Article  Google Scholar 

  • Dutt, A.K. (2003) “Income Elasticities of Imports, North-South Trade, and Uneven Development” in A. K. Dutt, J. Ros (eds) Development Economics and Structuralist Macroeconomics (Cheltenham: Edward Elgar).

    Chapter  Google Scholar 

  • Elliot, D., and R. Rhodd (1999) “Explaining Growth Rate Differences in the Highly Indebted Countries: An Extension to Thirlwall and Hussain”, Applied Economics, 31(9), 1145–8.

    Article  Google Scholar 

  • Felipe, J., J.S.L. McCombie and K. Naqvi (2010) “Is Pakistan’s Growth Rate Balance of Payments Constrained? Policies and Implications for Development and Growth”, Oxford Development Studies, 38(4), 477–96.

    Article  Google Scholar 

  • Ferreira, A., and O. Canuto (2003) “Thirlwall’s Law and Foreign Capital in Brazil”, Momento Economico, January–February, 125, 18–29.

    Google Scholar 

  • Garcia-Molina, M., and J.K. Ruiz-Tavera (2009–10) “Thirlwall’s Law and the Two-Gap Model: Toward an Unified ‘Dynamic Gap’ Model”, Journal of Post Keynesian Economics, 32(2), 269–90.

    Article  Google Scholar 

  • Garcimartin, C., L.A Rivas and S. Diaz de Sarralde (2008) “Accounting for Irish Growth: A Balance of Payments Constraint Approach”, Journal of Post Keynesian Economics, 30(3), 409–33.

    Article  Google Scholar 

  • Garcimartin, C., L.A. Rivas and P. G. Martinez (2010–11) “On the Role of Relative Prices and Capital Flows in Balance of Payments Constrained Growth: The Experience of Portugal and Spain in the Euro Area”, Journal of Post Keynesian Economics, 30(3), 409–33.

    Article  Google Scholar 

  • Gouvea, R.R., and G.T. Lima (2010) “Structural Change, Balance of Payments Constraint and Economic Growth: Evidence from the Multi-Sectoral Thirlwall’s Law”, Journal of Post Keynesian Economics, 33(1), 169–204.

    Article  Google Scholar 

  • Gouvea, R.R., and G. Lima (2011) “Balance of Payments Constrained Growth in a Multi-Sectoral Framework: A Panel Data Investigation” (mimeo).

    Google Scholar 

  • Harrod, R. (1933) International Economics (Cambridge: Cambridge University Press).

    Google Scholar 

  • Harrod, R. (1939) “An Essay in Dynamic Theory”, Economic Journal, 49(193), 14–33.

    Article  Google Scholar 

  • Heike, H. (1997) “Balance of Payments Constrained Growth: A Reconsideration of the Evidence for the US Economy”, Journal of Post Keynesian Economics, 19(3), 313–25.

    Article  Google Scholar 

  • Holland, M., F.V. Vieira and O. Canuto (2004) “Economic Growth and the Balance of Payments Constraint in Latin America”, Investigacion Economica, 63(249), 45–74.

    Google Scholar 

  • Hughes, J.J., and A.P. Thirlwall (1979) “Imports and Labour Market Bottlenecks: A Disaggregated Study for the UK”, Applied Economics, 11(1), 77–94.

    Article  Google Scholar 

  • Hume, D. (1752) “Of Money” and “Of the Balance of Trade” in Political Discourses (Edinburgh: A. Kincaid and A. Donaldson).

    Google Scholar 

  • Hussain, M.N. (1999) “The Balance of Payments Constraint and Growth Rate Differences Among African and East Asian Countries”, African Development Review, 11, 103–37.

    Article  Google Scholar 

  • Hussain, M.N. (2006) “The Implications of Thirlwall’s Law for Africa’s Development Challenges” in Philip Arestis, John McCombie, and Roger Vickerman (eds), Growth and Economic Development: Essays in Honour of A. P. Thirlwall (Cheltenham: Edward Elgar).

    Google Scholar 

  • Jayme, F.G. (2003) “Balance of Payments Constrained Economic Growth in Brazil”, Brazilian Journal of Political Economy, 23(1), 62–84.

    Google Scholar 

  • Jeon, Y. (2009) “Balance of Payments Constrained Growth: The Case of China 1979–2002”, International Review of Applied Economics, 23(2), 135–46.

    Article  Google Scholar 

  • Johansen, S. (1988) “Statistical Analysis of Cointegration Vector”, Journal of Economic Dynamics and Control, 12(2–3), 231–54.

    Article  Google Scholar 

  • Kaldor, N. (1970) “The Case for Regional Policies”, Scottish Journal of Political Economy, 17(3), 337–48.

    Article  Google Scholar 

  • Keynes, J.M. (1936) The General Theory of Employment, Interest and Money (London: Macmillan).

    Google Scholar 

  • Krugman, P. (1989) “Differences in the Income Elasticities and Trends in the Real Exchange Rates”, European Economic Review, 33(5), 1031–46.

    Article  Google Scholar 

  • Kvedaras, V. (2005) “Explanation of Economic Growth Differences in the CEE Countries: Importance of BOP Constraint”, Baltic Journal of Economics, summer/autumn, 48–65.

    Google Scholar 

  • Landesmann, M., and J. Poschl (1996) “Balance of Payments Constrained Growth in Central and Eastern Europe and Scenarios of East-West Integration”, Russian and East European Finance and Trade, 32(6), 30–84.

    Google Scholar 

  • Leon-Ledesma, M. (1999) “An Application of Thirlwall’s Law to the Spanish Economy”, Journal of Post Keynesian Economics, 21, 431–40.

    Article  Google Scholar 

  • Leon-Ledesma, M., and A.P. Thiriwall (2000) “Is the Natural Rate of Growth Exogenous?” Banca Nazionale del Lvoro Quarterly Review, 53(215), 433–46.

    Google Scholar 

  • Leon-Ledesma, M., and A.P. Thiriwall (2002) “Is the Natural Rate of Growth Exogenous? A Reply”, Banca Nazioale del Lavoro Quareterly Review, 55(221), 229–32.

    Google Scholar 

  • Lopez, J., and A. Cruz (2000) “Thirlwall’s Law and Beyond: The Latin American Experience”, Journal of Post Keynesian Economics, 22(3), 477–95.

    Article  Google Scholar 

  • Marques-Mendes, A., and A.P. Thirlwall (1989) “The Balance of Payments Constraint and Growth in Portugal 1951–86” in G. Yannopoulos (ed.) European Integration and the Iberian Economies (Basingstoke: Palgrave Macmillan).

    Google Scholar 

  • McClosky, D., and R. Zecher (1976) “How the Gold Standard Worked: 1880–1913” in J.A. Frenkel and H.G. Johnson (eds) The Monetary Approach to the Balance of Payments (London: Allen and Unwin).

    Google Scholar 

  • McCombie, J.S.L. (1981) “Are International Growth Rates Constrained by the Balance of Payments?” Banca Nazionale del Lavoro Quarterly Review, 34(139), 455–58.

    Google Scholar 

  • McCombie, J.S.L. (1985) “Economic Growth, the Harrod Trade Multiplier and the Hicks Supoer-Multiplier”, Applied Economics, 17(1), 55–72.

    Article  Google Scholar 

  • McCombie, J.S.L. (1997) “On the Empirics of Balance of Payments Constrained Growth”, Journal of Post Keynesian Economics, 19(3), 345–75.

    Article  Google Scholar 

  • McCombie, J.S.L. (2011) “Criticisms and Defences of the Balance of Payments Constrained Growth Model : Some Old, Some New”, paper prepared for conference on Thirlwall’s Law and Balance of Payments Constrained Growth, University of Coimbra, 24–25 June 2011.

    Google Scholar 

  • McCombie, J.S.L., and A. P. Thirlwall (1997) “Economic Growth and the Balance of Payments Constraint Revisited” in P. Arestis, G. Palma, and M. Sawyer (eds) Markets, Unemployment and Economic Policy: Essays in Honour of G. Harcourt, vol. 2 (London: Edward Elgar).

    Google Scholar 

  • McCombie, J.S.L., and A.P. Thirlwall (1997) “The Dynamic Harrod Trade Multiplier and the Demand-Oriented Approach to Economic Growth: An Evaluation”, International Review of Applied Economics, 11(1), 5–26.

    Article  Google Scholar 

  • McCombie, J.S.L. and A.P. Thirlwall (2004), Essays on Balance of Payments Constrained Growth: Theory and Evidence (London: Routledge).

    Google Scholar 

  • McCombie, J.S.L. (1989) “Thirlwall’s Law and Balance of Payments Constrained Growth — A Comment on the Debate”, Applied Economics, 21(5), 611–29.

    Article  Google Scholar 

  • McGregor, P., and K. Swales (1985) “Professor Thirlwall and Balance of Payments Constrained Growth”, Applied Economics, 17(1), 17–32.

    Article  Google Scholar 

  • Moggridge, D. (1973) The Collected Writings of J.M. Keynes: The General Theory and after Part 1 Preparation, vol XIII, (London: Macmillan).

    Google Scholar 

  • Moreno-Brid, J. (1998) “Balance of Payments Constrained Economic Growth: The Case of Mexico”, Banca Nazionale del Lavoro Quarterly Review, 51(207). 413–33.

    Google Scholar 

  • Moreno-Brid, J. (1998–89) “On Capital Flows and the Balance of Payments Constrained Growth Model”, Journal of Post Keynesian Economics, 21(2), 283–98.

    Article  Google Scholar 

  • Moreno-Brid, J. (1999) “Mexico’s Economic Growth and the Balance of Payments Constraint: A Cointegration Analysis”, International Review of Applied Economics, 13(2), 149–59.

    Article  Google Scholar 

  • Moreno-Brid, J. (2003) “Capital Flows, Interest Payments and the Balance of Payments Constrained Growth Model: A Theoretical and Empirical Analysis”, Metroeconomica, 54(2–3), 346–65.

    Article  Google Scholar 

  • Moreno-Brid, J., and E. Perez (1999) “Balance of Payments Constrained Growth in Central America: 1950–96”, Journal of Post Keynesian Economics, 22(1), 131–47.

    Article  Google Scholar 

  • Myrdal, G. (1957) Economic Theory and Underdeveloped Regions (London: Duckworth).

    Google Scholar 

  • Nell, K. (2003) “A Generalised Version of the Balance of Payments Growth Model: An Application to Neighbouring Regions”, International Review of Applied Economics, 17(3), 249–67.

    Article  Google Scholar 

  • Pacheco-Lopez, P., and A.P. Thirlwall (2006) “Trade Liberalisation, the Income Elasticity of Demand for Imports and Economic Growth in Latin America”, Journal of Post Keynesian Economics, 29(1), 41–61.

    Article  Google Scholar 

  • Palley, T. (2003) “Pitfalls in the Theory of Growth: An Application to the Balance of Payments Constrained Growth Model”, Review of Political Economy, 15(1), 75–84.

    Article  Google Scholar 

  • Pasinetti, L. (1981) Structural Change and Economic Growth: A Theoretical Essay on the Dynamics of the Wealth of Nations (Cambridge: Cambridge University Press).

    Google Scholar 

  • Pasinetti, L. (1993) Structural Dynamics: A Theory of the Economic Consequences of Human Learning (Cambridge: Cambridge University Press).

    Book  Google Scholar 

  • Perraton, J. (2003) “Balance of Payments Constrained Growth and Developing Countries: An Examination of Thirlwall’s Hypothesis”, International Review of Applied Economics, 17(1), 1–22.

    Article  Google Scholar 

  • Prebisch, R. (1950) The Economic Development of Latin America and its Principal Problems (New York: ECLA, UN Department of Economic Affairs).

    Google Scholar 

  • Prebisch, R. (1959) “Commercial Policy in the Underdeveloped Countries”, American Economic Review, Papers and Proceedings, 49(2), 251–73.

    Google Scholar 

  • Razmi, A. (2005) “Balance of Payments Constrained Growth Model: The Case of India”, Journal of Post Keynesian Economics, 27(4), 655–87.

    Google Scholar 

  • Ricardo, D. (1992 [1817]) Principles of Political Economy and Taxation (London: Everyman).

    Google Scholar 

  • Roncaglia, A. (2008) “From BNL-QR to PSL-QR: The History (1947–2007) and Prospects of a Journal”, PSL Quarterly Review, 61, 244–47.

    Google Scholar 

  • Sasaki, H. (2008–2009) “North-South Ricardian Trade and Growth Under the Balance of Payments Constraint”, Journal of Post Keynesian Economics, 31(2), 299–324.

    Article  Google Scholar 

  • Serrano Sanz, J.M., M. Sabate and D. Gadea (1999) “Economic Growth and the Long-Run Balance of Payments Constraint in Spain”, Journal of International Trade and Economic Development, 8(4), 389–417.

    Article  Google Scholar 

  • Serra, A. (1613) Breve Trattato della Cause che Possano far Abbondare li Regni d’Oro e Argento dove non Sone Minere con Applicazione al Regno di Napoli (A Brief Treatise on the Causes which can Make Gold and Silver abound in Kingdoms where there are no Mines).

    Google Scholar 

  • Setterfield, M. (2006) “Thirlwall’s Law and Palley’s Pitfalls: A Reconsideration” in Philip Arestis, John McCombie, and Roger Vickerman (eds) Growth and Economic Development: Essays in Honour of A.P. Thirlwall (Cheltenham: Edward Elgar).

    Google Scholar 

  • Skolka, J. (1980) “Auβenhandel und Wirtschaftswachstun”, Wirtschaft und Gesellschaft, 1/80.

    Google Scholar 

  • Smith, A. (1776) An Inquiry into the Nature and Causes of the Wealth of Nations (London: Straham and Cadell).

    Book  Google Scholar 

  • Solow, R. (1956) “A Contribution to the Theory of Economic Growth”, Quarterly Journal of Economics, 70(1), 65–94.

    Article  Google Scholar 

  • Taylor, L. (1981) “South-North Trade and Southern Growth: Bleak Prospects from a Structuralist Point of View”, Journal of International Economics, 11(4), 589–602.

    Article  Google Scholar 

  • Thirlwall, A.P. (1979) “The Balance of Payments Constraint as an Explanation of International Growth Rate Differences”, Banca Nazionale del Lavoro Quarterly Review, 32(128), 45–53.

    Google Scholar 

  • Thirlwall, A.P. (1983) “Foreign Trade Elasticities in Centre-Periphery Models of Growth and Development”, Banca Nazionale del Lavoro Quarterly Review, 36(128), 45–53.

    Google Scholar 

  • Thirlwall, A.P. (1991) “Professor Krugman’s 45-Degree Rule”, Journal of Post Keynesian Economics, 14(1), 23–28.

    Article  Google Scholar 

  • Thirlwall, A.P. (1997) “Reflections on the Concept of Balance of Payments Constrained Growth” Journal of Post Keynesian Economics, 19(3), 377–85.

    Article  Google Scholar 

  • Thirlwall, A.P. (2001) “The Relation Between the Warranted Growth Rate, the Natural Growth Rate and the Balance of Payments Equilibrium Growth Rate”, Journal of Post Keynesian Economics, 24(1), 81–8.

    Article  Google Scholar 

  • Thirlwall, A.P. (2006) “The Structure of Production, the Balance of Payments and Growth in Developing Countries: An Essay in Memory of Mohammed Nureldin Hussain”, African Development Review, 18(1), 98–121.

    Article  Google Scholar 

  • Thirlwall, A.P. (2011) “The Balance of Payments Constraint as an Explanation of International Growth Rate Differences”, PSL Quarterly Review, 64(259), 307–51.

    Google Scholar 

  • Thirlwall, A.P., and M.N. Hussain (1982) “The Balance of Payments Constraint, Capital Flows and Growth Rate Differences Between Developing Countries”, Oxford Economic Papers, 34(3), 498–510.

    Google Scholar 

  • Triffin, R. (1964) The Evaluation of the International Monetary System: Historical Appraisal and Future Perspectives (Princeton Studies in International Finance, no.18).

    Google Scholar 

  • Turner, P. (1999) “The Balance of Payments Constraint and the Post-1973 Slowdown of Economic Growth in the G7 Economies”, International Review of Applied Economics, 13(1), 41–53.

    Article  Google Scholar 

  • Vera, L.A. (2006) “The Balance of Payments Constrained Growth Model: A North-South Approach”, Journal of Post Keynesian Economics, 29(1), 67–92.

    Article  Google Scholar 

  • White, H., and A.P. Thirlwall (1974) “US Merchandise Imports and the Dispersion of Market Demand”, Applied Economics, 6(4), 275–92.

    Article  Google Scholar 

Download references

Authors
  1. Anthony Philip Thirlwall
    View author publications

    You can also search for this author in PubMed Google Scholar

Editor information

Editors and Affiliations

  1. Faculty of Economics, University of Coimbra, Portugal

    Elias Soukiazis (Associate Professor) & Pedro A. Cerqueira (Assistant Professor) (Associate Professor) &  (Assistant Professor)

Copyright information

© 2012 Anthony Philip Thirlwall

About this chapter

Cite this chapter

Thirlwall, A.P. (2012). Balance of Payments Constrained Growth Models: History and Overview. In: Soukiazis, E., Cerqueira, P.A. (eds) Models of Balance of Payments Constrained Growth. Palgrave Macmillan, London. https://doi.org/10.1057/9781137023957_2

Download citation

Publish with us

Policies and ethics

Search

Navigation