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Growth and Economic Development
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Growth and Economic Development

Essays in Honour of A.P. Thirlwall

9781843768784 Edward Elgar Publishing
Edited by Philip Arestis, University Director of Research, Cambridge Centre for Economic and Public Policy, Department of Land Economy, University of Cambridge and Fellow, Wolfson College, UK, John S.L. McCombie, Professor of Regional and Applied Economics and Director, Cambridge Centre for Economic and Public Policy, Department of Land Economy, University of Cambridge and Fellow of Downing College, Cambridge, UK and Roger Vickerman, Professor of European Economics, University of Kent, UK
Publication Date: 2007 ISBN: 978 1 84376 878 4 Extent: 320 pp
This valuable and engaging new book bears eloquent testimony to A.P. Thirlwall’s substantial contribution to economics over the last 40 years. The volume does not attempt to provide a comprehensive review of such a prolific figure, but rather demonstrates the considerable influence that his work on economic theory has had on his contemporaries, and the profession as a whole.

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Critical Acclaim
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This valuable and engaging new book bears eloquent testimony to A.P. Thirlwall’s substantial contribution to economics over the last 40 years. The volume does not attempt to provide a comprehensive review of such a prolific figure, but rather demonstrates the considerable influence that his work on economic theory has had on his contemporaries, and the profession as a whole.

From his early pioneering research in regional and labour economics to his more recent exploration of growth and development economics, leading experts in the field bear witness to the significant role he has played in the evolution of the discipline. In addressing some of the most pivotal aspects of his career, the contributors cover a range of topics including ‘Thirlwall’s Law’, the application of Keynesian macroeconomic approaches, the ‘General Theory’ within open economies, the connection between short-run cycles and long-run growth, endogenous growth theory, the Stability and Growth Pact, as well as broader development issues and problems. In championing Thirlwall’s challenging work, this volume provides a lively and comprehensive account of some of the most important areas of economics today.

This book will prove an essential read for academics and policy makers alike who are interested in trade, growth and development economics.
Critical Acclaim
‘. . . this volume is a very good and important addition to economic growth and development. On the basis of authority, the selection is well-balanced. . . This book should be a mandatory textbook for graduate students in development economics, and essential reading for all policy-makers.’
– Voxi Heinrich Amavilah, Progress in Development Studies
Contributors
Contributors: P. Arestis, J. Cornwall, P. Davidson, V. FitzGerald, H.D. Gibson, G.C. Harcourt, M.N. Hussain, M.A. León-Ledesma, J. McCombie, M. Roberts, M. Sawyer, M. Setterfield, A. Singh, R. Tamborini, F. Targetti, J. Toye, E. Tsakalotos, R. Vickerman
Contents
Contents:

Introduction
Philip Arestis and John McCombie

A.P. Thirlwall: The Kent Years
Roger Vickerman

1. The Implications of Thirlwall’s Law for Africa’s Development Challenges
Mohammed Nureldin Hussain

2. Thirlwall’s Law and Palley’s Pitfalls: A Reconsideration
Mark Setterfield

3. On Specifying the Demand for Imports in Macroeconomic Models
G.C. Harcourt

4. Keynes, Post Keynesian Analysis, and the Open Economies of the Twenty-First Century
Paul Davidson

5. Cycles, Aggregate Demand, and Growth
Miguel A. León-Ledesma

6. Modelling Historical Growth: A Contribution to the Debate
Mark Roberts

7. Endogenous Growth Theory: A Partial Critique
Philip Arestis and Malcolm Sawyer

8. The Nature of Economic Growth and the Neoclassical Approach: More Questions than Answers?
John McCombie

9. On the Core of Macroeconomic Theory
John Cornwall

10. The Crisis of the Stability Pact and a Proposal
Roberto Tamborini and Fernando Targetti

11. Narrowing the Options: The Macroeconomic and Financial Framework for EU Enlargement
Heather Gibson and Euclid Tsakalotos

12. Competition and Competition Policy in Emerging Markets: International and Developmental Dimensions
Ajit Singh

13. Models of Saving, Income and the Macroeconomics of Developing Countries in the Post-Keynesian Tradition
Valpy FitzGerald

14. The Influence of Keynes on Development Economics
John Toye

Index
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