Balance of Payments and Economic Growth

abroad analysis assumed assumptions B's currency balance of payments balance-of-payments balancing process bank Britain British capital changes commodities compared costs country A's decline demand depreciation devaluation disinflation dollar shortage economic development economic equilibrium economic growth Economic Journal effect elasticity equilibrium excess capacity exchange rates expansion export prices export surplus factors fluctuations foodstuffs foreign exchange foreign investment foreign trade gold Ibid increase industrial countries inflation international mechanism International Trade J. R. Hicks Journal of Economics Keynes Keynesian League of Nations long-term mechanism of adjustment ment million monetary money incomes national income nomic Ohlin percent percentage period primary products problem proportion rate of growth raw materials real income reduced relative Review of Economics rise rose Say's Law Simon Kuznets stable stream of total structure supply tend terms of trade theory tion total domestic expenditure total expenditure trade balance United Kingdom wages world trade