Purpose: Nigeria is currently in recession, a situation described as induced by decreases in oil output and export, caused by the bombings of oil pipelines in its Niger Delta region, and the unanticipated decline in its value of exports and currency, resulting from the decline in oil prices....

In this paper, we show how the concept of balance of payments-constrained growth rate developed by Thirlwall (1979) can be generalized as the growth rate constrained by the balance between any two economic variables. In particular, we derive two new concepts: the government balance-constrained...

The departure of Tony Thirlwall, a pioneer, renowned scholar, and a generous mentor, is a major loss to economics. This article reviews his main contributions to economics. The article focuses on his approach and method to economics and on his research output in the theory and empirics of growth...