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Persistent link: https://www.econbiz.de/10010925729
The post-Keynesian tradition contains two different models of long-run growth in open economies -- the model of export-led cumulative causation (ELCC) originally conceived by Nicholas Kaldor and the model of balance-of-payments-constrained growth (BPCG) developed by A.P. Thirlwall. These models...
Persistent link: https://www.econbiz.de/10008494066