From Giblin to Kalecki: The Export Multiplier and the Balance of Payments Constraint on Economic Growth, 1930-1933
In this paper i discuss the origin of the concept, between 1930 and 1933, in the writings of L.F. Giblin, R.F. Kahn, Roy Harrold and Michal Kalecki. Of the four, i argue, Kalecki's treatment of the export multiplier is most interesting, not least because he anticipated much more recent analyses of the balance of payments constraint on economic growth.
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