A structural economic dynamics approach to balance-of-payments-constrained growth
从帕西内蒂多部门宏观动态框架推导出类似瑟尔沃定律的国际收支均衡增长率,提出多部门瑟尔沃定律,指出人均收入增长率与出口增长率成正比,比例系数与各部门进口收入弹性成反比、与出口收入弹性成正比。
It is derived a balance-of-payments equilibrium growth rate analogous to Thirlwall´s Law from a Pasinettian multi-sector macrodynamic framework.The resulting formula, which we call Multi-Sectoral Thirlwall´s Law, asserts that the growth rate of per capita income is directly proportional to the growth rate of exports, such a proportionality being inversely (directly) related to sectoral income elasticities of imports (exports).These elasticities are weighted by the share of each sector in aggregate imports and exports, respectively.Several relevant theoretical, empirical and policy implications can be drawn from such a structural dynamics approach to balance-of-payments-constrained growth.