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Modelli di crescita limitata dalla bilancia dei pagamenti: storia e panoramica

Author

Listed:
  • Anthony P. Thirlwall

    (University of Kent)

Abstract

Thirlwall’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. The paper 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 an extensive list of papers that have examined the model is presented.

Suggested Citation

  • Anthony P. Thirlwall, 2011. "Modelli di crescita limitata dalla bilancia dei pagamenti: storia e panoramica," Moneta e Credito, Economia civile, vol. 64(256), pages 319-367.
    • Handle: RePEc:psl:moneta:2011:43
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    File URL: http://ojs.uniroma1.it/index.php/monetaecredito/article/view/9621/9501
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    Citations

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    Cited by:

    1. Lorenzo Esposito & Ettore Giuseppe Gatti & Giuseppe Mastromatteo, 2024. "Quo Vadis Terra? The future of globalization between trade and war," DISCE - Quaderni del Dipartimento di Politica Economica dipe0040, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    2. Mohammed Al- Mahish, 2017. "Does Balance of Payments Constrained Growth Model Hold in Saudi Arabia?," Journal of Finance and Economics Research, Geist Science, Iqra University, Faculty of Business Administration, vol. 2(1), pages 1-15, March.
    3. Stefano Lucarelli & Daniela Palma & Roberto Romano, 2013. "Quando gli investimenti rappresentano un vincolo. Contributo alla discussione sulla crisi italiana nella crisi internazionale," Moneta e Credito, Economia civile, vol. 66(262), pages 167-203.
    4. Stefano Lucarelli & Gaetano Perone, 2020. "Quando la produttivitˆ limitata dalla bilancia dei pagamenti. Una riflessione sulle relazioni fra centro e periferia nellÕunione monetaria europea a partire dallÕequazione della produttivitˆ di Sylos ," Moneta e Credito, Economia civile, vol. 73(292), pages 325-353.

    More about this item

    Keywords

    balance of payments; Thirlwall's law; dynamic Harrod multiplier;
    All these keywords.

    JEL classification:

    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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