Models of Balance of Payments Constrained Growth: History, Theory and Empirical Evidence

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 growth. The book provides an alternative to orthodox growth theory which neglects the importance of the balance of payments as a constraint to growth.

ELIAS SOUKIAZIS is assistant professor at the Faculty of Economics of the University of Coimbra, Portugal. He holds a PhD in Economics (Kent University at Canterbury, UK) and MSc in Economics (Birkbeck College, University of London, UK) and a BSc in Economics (University of Macedonia, Greece). His interests lie in applied research in the fields of growth economics, international and European economics, regional economics, health economics, human capital and in general macroeconomic policy. He has published in national and international journals and serve as reviewer in various journals. He is a member of the INFER and EFFS board and member of the research center GEMF. PEDRO CERQUERIA is assistant professor at the Faculty of Economics of the University of Coimbra, Portugal. He holds a PhD in Economics (European University Institute, Florence, Italy), an MSc in Monetary and Financial Economics (ISEG, Technical University of Lisbon, Portugal) and a BSc (Hons) in Economics (University of Coimbra, Portugal). His research lies in the economics of European Integration, Business Cycles, Growth and Open Macroeconomics. He has published and refereed internationally in these fields and is also a member of the GEMF research center.