This is a review article of A 'Second Edition' of the General Theory Vols 1 and 2 edited by G.C. Harcourt and P.A. Riach (London: Routledge, 1997).

A country's growth of output is identically equal to its ratio of investment to output and the productivity of investment. In "new" growth theory regressions, which include the investment ratio, all other included variables pick up why the productivity of investment differs between countries....

This paper examines the process of trade liberalisation in Mexico, particularly since the mid-1980s and the signing of the NAFTA agreement, and its impact on economic performance. The average growth of GDP of the Mexican economy since liberalisation has been only one-half the rate...

This paper surveys balance of payments constrained growth models from Thirlwall's original contribution in 1979 to the latest tests of the model using cointegration techniques. Historical antecedents of the model are explored (e.g. the Harrod trade multiplier; dual gap analysis; Prebisch's...

The paper reviews the evidence of the impact of trade liberalisation on the economic performance of poor developing countries with respect to poverty reduction, the distribution of income within countries, the distribution of income between countries, trade and the balance of payments, and...

The paper questions the assumption in all of mainstream growth theory that the Harrod natural rate of growth is exogenously determined and independent of the pressure of demand in an economy. First a simple statistical technique is presented for estimating the natural rate of growth, and then it...

The aim of this paper is to estimate the sensitivity of the natural rate of growth to the actual rate of growth for 15 OECD countries over the period 1961 to 1995, on the hypothesis that the natural rate of growth is not exogenously given. To do this we estimate the natural rate of growth and,...

The paper looks at the latest evidence of what has been happening to regional disparities in per capita income (measured as Gross State Domestic Product per capita) in India over the first decade of the twenty first century (1999/00 to 2010/11) by estimating cross section equations for...

Kaldor's first law of growth posits a positive causal relation between the growth of manufacturing output and the growth of GDP due to static and dynamic returns to scale in manufacturing and rising productivity outside the manufacturing sector as resources are transferred from diminishing...