This volume contains the proceedings of the Tenth Keynes Seminar held by Keynes College at the University of Kent at Canterbury in 1991. The purpose of the seminars is to examine for the student and the layman, as well as for the professional economist, the varous aspects of Keynes's life and work.

'...a well written book...covering...a vast amount of material...well balanced between the theoretical and applied works. The authors are judicious and fair in providing a balanced treatment of the two alternative theories of growth performance: supply-oriented and demand-oriented. The book will serve as a guideline to researchers and policymakers...as a textbook for upperdivision undergraduate and graduate courses.'- Kashi Nath Tiwari, Kennesaw State College This is the first book of its kind to argue in a consistent and comprehensive way the idea that a country's growth performance cannot...

There are many theories concerning the reasons that the pace of development and the growth of national product differ between nations. One of the most interesting theories concerns the relationship between a country's balance of payments and its economic growth and development. It is this area which is covered in this book. The contributions contained within this book outline the fundamental theoretical model which argues that no country can grow faster than that rate consistent with balance of payments equilibrium on current account. It moves on to analyze various case studies that apply the...

Contains a statement of balance-of-payments accounting, and a critical appraisal of balance-of-payments adjustment theory. The book also features chapters on the capital account of balance-of-payments and the theory of exchange rate determination in the United Kingdom.