Editing Balassa–Samuelson effect (section)

==History==
The Balassa–Samuelson effect model was developed independently in 1964 by [[Béla Balassa]] and [[Paul Samuelson]]. The effect had previously been hypothesized in the first edition of [[Roy Forbes Harrod]]'s  ''International Economics'' (1939, pp.&nbsp;71–77), but this portion was not included in subsequent editions.

Partly because [[empirical]] findings have been mixed, and partly to differentiate the model from its conclusion, modern papers tend to refer to the Balassa–Samuelson ''[[hypothesis]]'', rather than the Balassa–Samuelson ''effect''. (See for instance: "[https://web.archive.org/web/20050504070545/http://membres.lycos.fr/drineimed/hpbimg/papier12.pdf A panel data analysis of the Balassa-Samuelson hypothesis]", referred to above.)