Economic Growth in an Open Developing Economy: The Role of Structure and Demand

This concise yet insightful sequel to the highly acclaimed The Nature of Economic Growth provides a comprehensive critique of both old and new growth theory, highlighting the importance of economic growth for reducing poverty.

A.P. Thirlwall illustrates that orthodox growth theory continues to work with 'one-good' models and to treat factor supplies as exogenously given, independent of demand. Orthodox trade theory still ignores the balance of payments consequences of different patterns of t...