Download or read book Balance of Payments Constrained Economic Growth in Nigeria written by Emmanuel Igbinoba and published by GRIN Verlag. This book was released on 2015-05-13 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2014 in the subject Business economics - General, , language: English, abstract: This paper assesses the Thirwall's balance of payment(BOP) constrained model by applying it on the Nigerian economy and employing cointegration method to observe the relationship between economic growth and current account balance equilibrium. While extensive research study on economic growth concentrate on the neoclassical supply-oriented approach based on the production function and full employment, Harrod(1939) emphasized that demand generated growth determine long run economic growth and Thirwall developed a Keynesian perspective of the determinants of growth embedded on a dynamic version of the Harrod's foreign trade multiplier. Thirwall pinpoints the incapability of economic agents to increase aggregate demand indefinitely in open economies as justification for income growth differences across nations. The balance of payment constrained growth model states that a country's economic growth rate is constrained by the desire to generate foreign exchange and reiterate the function of demand as the motivation for domestic growth. This arises because growth in export and investment growth in import substitution are the only aspect of aggregate demand that can increase GDP growth and reduce foreign constraints. This implies that growth rate is constrained by the balance of payment as the economy cannot grow faster than what is consistent with the balance of payment equilibrium. The principle of this Keynesian demand side growth theory is that export capability and import attitude establish long run economic growth. Income derived from external trade constitute the principal medium to finance growing import due to a rise in domestic activities. This model differ from the supply induced growth models which evaluate economic growth by using factor inputs such as savings, human and physical capital, population growth and initial per capital GDP on economic growth. Reservations about the traditional growth models stem from the fact that the factor inputs have inconclusive roles in the growth process in developing countries. Also a lot of the neoclassical assumptions have been observed to be unapplicable in developing or transition economies. The balance of payment constrained model infer that economic growth are stimulated by demand factors and the main constraint on demand is the balance of payment.
Download or read book The Balance of Payments Analysis of Developing Economies written by Olumuyiwa Samson Adedeji and published by Routledge. This book was released on 2017-11-30 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developing countries - given their extreme economic vulnerability - are likely to be better served by maintaining flexible exchange rate regimes. That is the finding of this informative and enlightening book. Presenting unique theoretical and econometric analysis of the current account of the balance of payments of Nigeria and Ghana, this book examines the features common to the economic position of developing countries (such as recurring deficits and continual increases in external debt). The book presents a number of new theoretical modifications to the standard version of the value model of the current account, in order to reflect the major characteristics of developing economies. The book also uses rigorous econometric analyses to determine the validity of theoretical models, and examines the sustainability of these various countries' current account deficits.
Download or read book Socio economic Development in Nigeria written by Gesiye S. Angaye and published by . This book was released on 1995 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Balance of payments Constraint and Growth Rate Differences Among African and East Asian Economies written by M. Nureldin Hussain and published by . This book was released on 1995 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economic Growth and the Balance of Payments Constraint Revisited written by J. S. L. McCombie and published by . This book was released on 1995 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economic Growth and the Balance of Payments Constraint written by John McCombie and published by Springer. This book was released on 2016-07-27 with total page 646 pages. Available in PDF, EPUB and Kindle. Book excerpt: '... a well written book ... covering ... a vast amount of material ... well balanced between the theoretical and applied works. The authors are judicious and fair in providing a balanced treatment of the two alternative theories of growth performance: supply-oriented and demand-oriented. The book will serve as a guideline to researchers and policymakers ... as a textbook for upperdivision undergraduate and graduate courses.'- Kashi Nath Tiwari, Kennesaw State College This is the first book of its kind to argue in a consistent and comprehensive way the idea that a country's growth performance cannot be properly understood without reference to the performance of its tradeable goods sector and the strength of its balance of payments. It puts forward a demand orientated theory of why growth rates differ between countries where the major constraint on demand is the balance of payments. The book is critical of neoclassical growth analysis and provides an alternative theory of growth performance to the supply orientated approach of neoclassical theory. There are theoretical chapters comparing and contrasting neoclassical growth analysis with the new demand orientated approach, and empirical sections which apply the new model to regions and countries, including two case studies of the UK and Australia.
Download or read book Development Economics and Planning in Nigeria written by Ekpung Edame and published by Harmony. This book was released on 2001 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Models of Balance of Payments Constrained Growth written by E. Soukiazis and published by Springer. This book was released on 2012-10-15 with total page 457 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book extends Thirlwall's model and adapts its implications to the current problems facing developed and emerging economies. In this context, this book combines theoretical models and empirical applications, unveiling new results and highlighting the importance of the balance of payments as a constraint to growth.
Download or read book Balance of Payments Textbook written by International Monetary Fund and published by International Monetary Fund. This book was released on 1996-04-15 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Balance of Payments Textbook, like the Balance of Payments Compilation Guide, is a companion document to the fifth edition of the Balance of Payments Manual. The Textbook provides illustrative examples and applications of concepts, definitions, classifications, and conventions contained in the Manual and affords compilers with opportunities for enhancing their understanding of the relevant parts of the Manual. The Textbook is one of the main reference materials for training courses in balance of payments methodology.
Download or read book Structural Economic Dynamics written by Luigi Pasinetti and published by Cambridge University Press. This book was released on 2006-11-02 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a theoretical investigation of the influence of human learning on the development through time of a 'pure labour' economy. The theory proposed is a simple one, but aims to grasp the essential features of all industrial economies. Economists have long known that two basic phenomena lie at the root of long-term economic movements in industrial societies: capital accumulation and technical progress. Attention has been concentrated on the former. In this book, by contrast, technical progress is assigned the central role. Within a multi-sector framework, the author examines the structural dynamics of prices, production and employment (implied by differentiated rates of productivity growth and expansion of demand) against a background of 'natural' relations. He also considers a number of institutional problems. Institutional and social learning, know-how, and the diffusion of knowledge emerge as the decisive factors accounting for the success and failure of industrial societies.
Download or read book Essays on Balance of Payments Constrained Growth written by John McCombie and published by Routledge. This book was released on 2004-03-26 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are many theories concerning the relationship between the pace of development and economic growth in different countries. This impressive collection explores the relationship between a country's balance of payments and their rate of economic growth. The evidence and ramifications within the book will be of interest to economists and policy-makers in developing countries.
Download or read book Econometric Analyses on Global Finance and Economic Development written by Abdul-Maliq, Yekeen Oku and published by IGI Global. This book was released on 2024-01-29 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding the complex interplay between economic ideologies, political systems, and international relations is more critical than ever. The legacy of the Cold War still lingers, shaping the global stage in myriad ways. The ideological divide between capitalism and communism, democracy and authoritarianism, has left a lasting mark on our political and economic landscapes. However, as the world continues to evolve, traditional definitions and assumptions about these ideologies have begun to blur, creating a pressing need for fresh perspectives. The book, Econometric Analyses on Global Finance and Economic Development, serves as a beacon of knowledge for scholars, students, and policymakers seeking a deeper understanding of economic history, political economy, and international relations. By meticulously analyzing fifteen countries, the book unveils a remarkable transformation in economic ideologies and their impact on prosperity. From the post-Cold War era to the present day, it provides empirical evidence of how these shifts have led to more resilient and buoyant economies. Targeted towards those interested in the intersection of history, economics, and politics, this book presents an extensive analysis of countries such as China, India, Vietnam, and many others, shedding light on their economic transformations and their path to global prosperity. Whether you are a student, a researcher, or a decision-maker in the fields of economics, international relations, or development finance, this book offers valuable insights into the dynamic forces shaping our world.
Download or read book The Nature of Economic Growth written by A. P. Thirlwall and published by Edward Elgar Publishing. This book was released on 2003-01-01 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text charts development economics as it evolved from Adam Smith to new or endogenous growth theory. Thirlwall is critical of the latter & its predecessor neo-classical growth theory, & tries to put back demand as a driving force in growth theory.
Download or read book Structural change fundamentals and growth a framework and case studies written by McMillan, Margaret and published by Intl Food Policy Res Inst. This book was released on 2017-05-11 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Balance of Payments Constraint and Growth Rate Differences Under Alternative Policy Regimes in Nigeria written by A. O. Adewuyi and published by . This book was released on 2002 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Growth and Development written by A. P. Thirlwall and published by . This book was released on 1972 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Rethinking Economic Development Growth and Institutions written by Jaime Ros and published by . This book was released on 2013-09 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents the contributions that early development theory can make to growth economics in answering why some countries are richer than others and why some economies grow faster than others.
