Early Balance of Payments Models

Anthony Makin

Chapter 3 in Global Finance and the Macroeconomy, 2003, pp 41-60 from Palgrave Macmillan

Abstract: Abstract This chapter surveys well-known early models of balance of payments adjustment. Aspects of these models provide important background to more recent approaches and contain insights that remain relevant today. The different approaches that emerged are presented largely in order of their chronological appearance. It becomes clear that interpretations of the theoretical and policy significance of the balance of payments and the external adjustment process evolved in line with changes in the rules governing the international financial system.

Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50403-5_3

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DOI: 10.1057/9780230504035_3

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