Existing International Payments and Exchange Systems in Relation to Problems of Growth: II

D. J. Delivanis
Additional contact information
D. J. Delivanis: University of Thessaloniki

Chapter Chapter 16 in International Trade Theory in a Developing World, 1963, pp 354-371 from Palgrave Macmillan

Abstract: Abstract My paper deals with a subject which is also being examined, though from a different angle, by Professor Weiller.1 I have not had the opportunity of seeing his paper before writing my own. But I propose to assume that the Conference has already had before it an analysis of the external monetary problems facing an individual country as a consequence of growth. The problems are connected with the equilibrium of the balance of payments. May I begin by pointing out that disequilibrium in the balance of payments is only to be found when the rate of growth in one country differs sub-stantially from that of its trading partners, when this difference of growth rate is not neutralized by other counterbalancing factors, and when the country in question has exhausted its foreign exchange reserves and its borrowing possibilities? In these days economic growth is undoubtedly affected — certainly in a majority of cases — by governmental activities and macro-economic decisions, not influenced exclusively by market factors. Thus it is frequently to be found that there are differences in growth rates, and that these lead to balance of payments disequilibria in those countries in which growth is highest, unless the countries concerned take steps to reduce or neutralize their deficits.

Keywords: Central Bank; International Monetary Fund; Foreign Exchange; Exchange Control; Foreign Trade (search for similar items in EconPapers)
Date: 1963
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-08458-6_16

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349084586

DOI: 10.1007/978-1-349-08458-6_16

Access Statistics for this chapter

More chapters in International Economic Association Series from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().