Uneven development and the balance of payments constrained model: Terms of trade, economic cycles, and productivity catching-up
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DOI: 10.1016/j.strueco.2020.05.007
Abstract: This paper expands the Dutt (2002) version of the Balance of Payments Constrained Model (BPCM). We question the assumption of price-neutrality and the incompatibility between the BPCM and the Prebisch-Singer hypothesis (PSH) in terms of… read more here.
Keywords: payments constrained; balance payments; productivity; model ... See more keywords