Titlebook: Balance-of-Payments Theory and the United Kingdom Experience; A. P. Thirlwall,Heather D. Gibson Book 1992Latest edition Palgrave Macmillan

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The Capital Account of the Balance of Payments,ngs of shares, property, companies etc. and bank accounts held by non-residents in UK banks. Changes in these external assets or liabilities can result either from transactions which result from the buying or selling of goods and services (i.e. current account transactions) or from exports and imports of capital (i.e. pure financial transactions).

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Simultaneous Internal and External Balance,flict between internal and external balance, which was discussed in Chapter 4, materialises frequently. In the United Kingdom the conflict between balance-of-payments equilibrium and faster growth has been acute since the Second World War, and in recent years the achievement of full employment has also become problematical.

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Balance-of-Payments Theory and the United Kingdom Experience978-1-349-21806-6

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Import Functions,at income can be used as a proxy for expenditure in the import demand function. We stress again, however, that for income-determination analysis it is very important to recognise that there may be different import coefficients attached to different components of expenditure, and to relate imports to

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The Balance of Payments as a Structural Problem, argued that the fundamental problem of the UK balance of payments has been a lack of price competitiveness in world markets, because unit costs of production in the United Kingdom have risen faster than elsewhere, and that the most appropriate solution to this problem is to let the currency depreci