An Application of Thirlwall's Law to the Spanish Economy
AbstractThe aim of this paper is to test the existence of a balance of payments constraint on the Spanish economic growth. The model developed by Thirlwall (1979) is tested in the context of an individual economy following the strategy proposed by Atesoglu (1993, 1994). The results show little influence for relative prices in the determination of the demand for imports. They also show that the Spanish economic growth rate has been very close to that predicted by Thirlwall's Law. This fact, together with the existence of unemployed resources, yield strong evidence in favour of the demand approach to economic growth.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoPaper provided by Department of Economics, University of Kent in its series Studies in Economics with number 9708.
Date of creation: Nov 1997
Date of revision:
Publication status: Published in Journal Post-Keynesian Economics, 1999, Spring
Contact details of provider:
Postal: Department of Economics, University of Kent at Canterbury, Canterbury, Kent, CT2 7NP
Phone: +44 (0)1227 764000
Fax: +44 (0)1227 827850
Web page: http://www.ukc.ac.uk/economics/
Other versions of this item:
- Miguel A. León-Ledesma, 1999. "An Application of Thirlwall's Law to the Spanish Economy," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 21(3), pages 431-439, April.
- E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
- F14 - International Economics - - Trade - - - Empirical Studies of Trade
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Ricardo Azevedo Araujo & Gilberto Tadeu Lima, 2007.
"A structural economic dynamics approach to balance-of-payments-constrained growth,"
Cambridge Journal of Economics,
Oxford University Press, vol. 31(5), pages 755-774, September.
- Ricardo Azevedo Araujo & Gilberto Tadeu Lima, 2006. "A Structural Economic Dynamics Approach To Balance-Of-Payments-Constrained Growth," Anais do XXXIV Encontro Nacional de Economia [Proceedings of the 34th Brazilian Economics Meeting] 119, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
- Anthony P. Thirlwall, 2011.
"Balance of payments constrained growth models: history and overview,"
PSL Quarterly Review,
Economia civile, vol. 64(259), pages 307-351.
- A. P. Thirlwall, 2011. "Balance of Payments Constrained Growth Models: History and Overview," Studies in Economics 1111, Department of Economics, University of Kent.
- Kevin Nell, 2003. "A 'Generalised' Version of the Balance-of-Payments Growth Model: An application to neighbouring regions," International Review of Applied Economics, Taylor & Francis Journals, vol. 17(3), pages 249-267.
- Halicioglu, Ferda, 2012. "Balance-of-Payments Constrained Growth: the Case of Turkey," MPRA Paper 41791, University Library of Munich, Germany.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Emma Robinson).
If references are entirely missing, you can add them using this form.