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...