"Ever since Adam Smith, economists have been preoccupied with the puzzle of economic growth. The mainstream neo-classical models of growth that have largely dominated modern growth theory are based around assumptions of diminishing returns on extra capital with technological innovation and...

"This book extends Thirlwall's original model and adapts its implications to the current problems of the developed and emerging economies. In this context, this book combines theoretical models and empirical applications to unveil new results consistent with the balance of payments constrained...