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Growth and the Current Account in a Small Open Economy

Benge, Matt Nicholas; Wells, Graeme


The authors provide a framework with which to analyze growth in a small economy with perfect capital mobility. The framework provides a diagrammatic representation of steady states that differs in interesting and important ways from the usual closed-economy Solow-Swan diagram. The authors use the key diagrams to illustrate the effects of changes in parameters such as the saving rate and productivity growth on steady-state values of macroeconomic aggregates. They compare the steady-state results...[Show more]

CollectionsANU Research Publications
Date published: 2002
Type: Journal article
Source: Journal of Economic Education
DOI: 10.1080/00220480209596464


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