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Import and export ratios and the dynamic harrod trade multiplier

McGregor, P.G. and Swales, J.K. (1983) Import and export ratios and the dynamic harrod trade multiplier. Oxford Economic Papers, 35 (1). pp. 110-124. ISSN 0030-7653

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Abstract

IN a recent article in this journal, Kennedy and Thirlwall (1979) comment on a letter from Kaldor (1977) published in The Times. In this letter, Kaldor criticised Wells and Imber (1977, p. 80) for interpreting a rise in the ratio of manufactured imports to manufactured outputs, accompanied by a similar rise in the ratio of manufactured exports to manufactured outputs, as being caused by " . . . the trend of world trade, a feature of which has been increasing international specialisation".