The Balance of Payments Constraint as an Explanation of International Growth Rate Differences
The paper shows that if long-run balance of payments equilibrium on current account is a requirement then a country's long run growth rate can be approximated by the ratio of the growth of exports to the income elasticity of demand for imports. The model fits well the experience of eighteen OE...
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| Format: | Article |
| Language: | English |
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Associazione Economia civile
2011-12-01
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| Series: | PSL Quarterly Review |
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| Online Access: | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/9407 |