There are many theories concerning the reasons that the pace of
development and the growth of national product differ between
nations. One of the most interesting theories concerns the
relationship between a country's balance of payments and its
economic growth and development. It is this area which is covered
in this book. The contributions contained within this book outline
the fundamental theoretical model which argues that no country can
grow faster than that rate consistent with balance of payments
equilibrium on current account. It moves on to analyze various case
studies that apply the model to both developed and developing
countries. With an impressive array of contributors and under the
notable editorship of mcCombie and thirlwall, this book is simply
essential reading for economists with an interest in the
relationship between trade and growth, and to policy makers in
developing countries.
General
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