Results 11 to 20 of about 2,888,737 (137)
Journal of Economic Structures, 2020 A notable macroeconomic explanation of uneven development, with particular relevance to developing countries, has been the problem of balance of payments constraints, as captured by Thirlwall’s Law: where relative growth rates are explained by ...
Andrew B. Trigg
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Foreign Trade and Economic Growth: Evidence of Thirlwall's Law in Iran
Journal of Social and Development Sciences, 2011 Thirlwall's law establishes a relation between the long-run growth rate, the growth of exports and the long-run income elasticity of imports. This paper applies Thirlwall's basic balance-of-payments constraint growth model to Iranian economic growth for ...
A. Samimi, R. Hosseinzadeh
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Thirlwall's law: Binding constraint or ‘centre‐of‐gravity’?
Metroeconomica, 2023 Thirlwall's law is one of the most powerful empirical regularities in demand‐led growth theories. In recent years, the challenges imposed by globalisation have led to a new wave of studies incorporating into this framework topics such as ecological ...
Marwil J. Dávila‐Fernández, S. Sordi
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A THIRLWALL’S LAW APPLICATION TO INTERNATIONAL TRADE IN SERVICES
Investigacion Economica, 2023 The international trade in services has grown exponentially, both in developed and developing countries, outpacing the manufacturing growth. According to the literature, there are two waves of growth in the services sector: A first wave in developing ...
Gonçalo Amado
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THIRLWALL’S LAW AND NEW-DEVELOPMENTALISM: WHAT ARE THE LIMITS FOR LONG-RUN GROWTH?
Investigacion Economica, 2023 The aim of this article is to argue that New-Developmentalism —understood as an approach to the deep determinants of economic development in which macroeconomic policy regime has a key role in explaining the long-term growth differentials among countries,
José Luis Oreiro
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Thirlwall's law is not a tautology, but some empirical tests of it nearly are
Review of Keynesian Economics, 2021 This article examines the charge that Thirlwall's law is a theoretical tautology. It shows that a certain approach to empirical testing of that law can sometimes – under conditions analysed here – result in econometric estimates that reflect an ...
Robert A. Blecker
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Applied Economics, 2021 We apply Thirlwall’s law (Thirlwall 1979) to estimate long run growth in the UK. In particular, we develop a new test allowing for potential structural breaks based on 2SLS to remedy potential weaknesses that existed in previous methods. Our results show
Ufuk gunes Bebek, Wentao Li
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, 2021 This paper analyzes the evolution of income elasticities of imports and verifies the validity original Thirlwall’s Law for eight Latin American countries overs the period 1961-2018.
Diego Ferreira +2 more
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Why Thirlwall’s law is not a tautology: more on the debate over the law
Thirlwall's Law at 40, 2019 This paper reconsiders the argument first debated in the 1980s and revisited by Blecker (2016) and Razmi (2016), inter alios, that Thirlwall's law is nothing but a near-identity.
J. McCombie
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On the Role of Relative Prices and Capital Flows in Balance-of-Payments Constrained Growth: the Experiences of Portugal and Spain in the Euro Area [PDF]
, 2010 Broadly speaking, the balance-of-payments constraint hypothesis as developed by Thirlwall has been empirically supported. Yet, it shows some shortcomings highlighted in the literature. In our opinion, two of them must be analysed.
Carlos Garcimartín +2 more
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