Artha Vijnana: Journal of The Gokhale Institute of Politics and Economics

S. Sundararajan , L. M. Bhole

Abstract

The theory of the Balance of Payment adjustment mechanism is traditionally viewed as a succession of approaches. The four conventional approaches are the Elasticity Approach, the Keynesian Multiplier or Income Approach, Absorption Approach and the Policy Approach that stresses the need for an internal and external balances.

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