... for the theoretical problem of imposing a balance-of-payments constraint on the process of cumulative causation often incorporated in Kaldorian growth models. In terms of policy, the framework sheds further light on the relevance of income distribution and the labour market institutional framework for the dynamics...

... of disaggregated trade data in conjunction with modern panel data econometric techniques to obtain empirical estimates on the balance‐of‐payments constraints to long‐run economic growth for an unprecedently large sample of countries. After merging information from WTF and WDI databases, we got a sample of 90...