The Balance-of-Payments-Constrained Growth Model and the Limits to Export-Led Growth
作者： Robert A. Blecker
DOI: 10.11644/KIEP.JEAI.2000.4.4.74
关键词: Relevance (law) 、 Newly industrialized country 、 Developing country 、 Balance of payments 、 Macroeconomics 、 Fallacy of composition 、 Economics 、 Post-Keynesian economics 、 Growth model 、 Almost ideal demand system
摘要: This paper discusses how A. P. Thirlwall's model of balance-of-payments-constrained growth can be adapted to analyze the idea a "fallacy composition" in export-led strategy many developing countries. The Deaton-Muellbauer Almost Ideal Demand System (AIDS) is used represent adding-up constraints on individual countries' exports, when they are all trying export competing products same foreign markets (i.e. newly industrializing countries exporting similar types manufactured goods OECD countries). relevance recent financial crises and policy alternatives for redirecting development strategies also discussed.
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