The Dynamic Harrod Foreign Trade Multiplier and the Demand-orientated Approach to Economic Growth: an Evaluation

John McCombie and Anthony Thirlwall

International Review of Applied Economics, 1997, vol. 11, issue 1, 5-26

Abstract: This paper puts forward a demand-orientated model of economic growth, as an alternative to the supply-orientated approach of neoclassical theory, and evaluates the extensive research testing the dynamic Harrod trade multiplier model developed by Thirlwall and extended by McCombie. It is critical of the continued dismissal of demand constraints as an explanation of inter-country growth rate differences in the models of McGregor & Swales, Crafts, Krugman, etc., and in the 'new' growth theory literature, although it is sympathetic to the rehabilitation of the role increasing returns for an understanding of cumulative processes which make for divisions in the world economy.

Date: 1997
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (34)

Downloads: (external link)
http://www.tandfonline.com/doi/abs/10.1080/02692179700000001 (text/html)
Access to full text is restricted to subscribers.

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:taf:irapec:v:11:y:1997:i:1:p:5-26

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/CIRA20

DOI: 10.1080/02692179700000001

Access Statistics for this article

International Review of Applied Economics is currently edited by Professor Malcolm Sawyer

More articles in International Review of Applied Economics from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().