000			02666nam a2200301 a 4500
001			eep9781781955338
003			UtOrBLW
005			20210215104131.0
006			m o d
007			cr un|||||||||
008			130426s2013 enk ob 001 0 eng d
010			_a 2012951772
020			_a9781781955338 (e-book)
040			_aUtOrBLW _cUtOrBLW
050		4	_aHD82 _b.T45 2013
100	1		_aThirlwall, A. P.
245	1	0	_aEconomic growth in an open developing economy _h[electronic resource] : _bthe role of structure and demand / _cA.P. Thirlwall.
260			_aCheltenham : _bEdward Elgar Pub., _c2013.
300			_a1 online resource (200 p.)
504			_aIncludes bibliographical references and index.
505	0		_a1. Divisions in the world economy and the importance of economic growth -- 2. Growth theory : old and new -- 3. A critique of orthodox growth theory : structure and demand matter for economic growth -- 4. The endogeneity of the natural rate of growth, and constraints on demand -- 5. Balance of payments constrained growth -- 6. Trade liberalisation, the balance of payments, growth, inequality and poverty.
520			_aThis concise yet insightful sequel to the highly acclaimed The Nature of Economic Growth provides a comprehensive critique of both old and new growth theory, highlighting the importance of economic growth for reducing poverty. A.P. Thirlwall illustrates that orthodox growth theory continues to work with one-good models and to treat factor supplies as exogenously given, independent of demand. Orthodox trade theory still ignores the balance of payments consequences of different patterns of trade specialisation when assessing the welfare effects of trade. The author goes on to present theory underpinned by up-to-date empirical evidence that factors of production and productivity growth are endogenous to demand, and that the structure of production and trade matter for the long-run growth performance of countries because of their impact on the balance of payments. He concludes that trade liberalisation has proved disappointing in improving the trade-off between growth and the balance of payments. This book will provide a challenging read for students and academics in the fields of economics, heterodox economics, and development. Policymakers focussing on the relationship between growth, trade and the balance of payments will also find the book to be of great interest.
650		0	_aEconomic development.
655		7	_aElectronic books. _2lcsh
710	2		_aEdward Elgar Publishing.
776	1		_z9781781955321 (hardback)
856	4	0	_uhttps://www.elgaronline.com/view/9781781955321.xml
999			_c28665 _d28665