Exports, capital imports and economic growth

by Benton F. Massell

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In a paper published in 1962, R. J. Ball presented a theoretical examination of the effect of exports and of capital imports on an economy's rate of growth. Ball concluded that capital imports enable an economy to increase its rate of growth. The present study examines the model and the assumptions underlying Ball's conclusions. Both of his conclusions are found to follow from quite unacceptable assumptions; a more realistic set of assumptions yields entirely different results.

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