Ganti Subrahmanyam (National Institute of Bank Management, Pune) Srinivasa Sundararajan (Citybank, Mumbai)
Abstract
In this paper a simple open economy macro economic model is developed to identify which of the gaps-saving-investment, trade, or fiscal-become the binding constraints in the adjustment process with growth in developing countries. Using results of comparative statistics, the stability conditions are derived to examine whether short-run effects are consistent with dynamic stability of the economy. A comparative statics analysis of a constrained economy with respect to all the binding gaps is examined and their policy implications are discussed in detail.
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Article provided by Department of Economics, Delhi School of Economics in its journal Indian Economic Review.
Volume (Year): 33 (1998) Issue (Month): 1 (January) Pages: 31-51 Download reference. The following formats are available: HTML
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Find related papers by JEL classification: E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance