growth in the later 1990s was due to the restrictive impact on domestic demand coming from the deep restructuring and …

's long run growth rate can be approximated by the ratio of the growth of exports to the income elasticity of demand for … balance of payments, contrary to the neoclassical orthodoxy. Growth can be demand constained by the balance of payments. …

In a Kaleckian distribution and growth model with workers' debt we examine the short and long run effects of three …

-of-payments constrained growth model. It starts by assessing the criticisms that the law is largely capturing an identity; that the law of one … actual and the balance-of-payments equilibrium growth rates are the same. It goes on to consider the argument that … or not the balance-of-payments constrained growth model is subject to the fallacy of composition. It concludes that none …

Thirlwall's 1979 balance of payments constrained growth model predicts that a country's long run growth of GDP can be … approximated by the ratio of the growth of real exports to the income elasticity of demand for imports assuming negligible effects …

to the long period and growth. A criticism is addressed to a single-cause interpretation of the demand-led growth models … investment decisions. In such a context a long-period analysis with normal prices should avoid a dual steady growth where …