Abstract
This chapter analyses links between budget and external deficits with reference to the dependent economy approach based on the dichotomy between internationally tradable and non-tradable goods and services.
Whatever might be the political or social advantages, very little additional employment and no permanent additional employment can in fact and as a general rule be created by State borrowing and State expenditure .
Sir Winston Churchill, 1929.
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Makin, A.J. (2018). Fiscal Policy in a Dependent Economy. In: The Limits of Fiscal Policy. Palgrave Pivot, Cham. https://doi.org/10.1007/978-3-319-90158-9_6
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DOI: https://doi.org/10.1007/978-3-319-90158-9_6
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