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Autor
Podkaminer Leon (Bielsko-Biała School of Finance and Law)
Tytuł
Further Evidence on the Validityof Thirlwall's Law
Źródło
Zeszyty Naukowe / Wyższa Szkoła Finansów i Prawa w Bielsku Białej, 2017, nr 1, s. 75-86, tab., bibliogr. 14 poz.
Scientific Journal of Bielsko-Biala School of Finance and Law
Słowa kluczowe
Prawo, Handel, Rozwój zrównoważony, Współpraca
Law, Trade, Sustainable development, Cooperation
Uwagi
Klasyfikacja JEL: F43, F15, F62, F32, O41, O49
summ.
Abstrakt
A simple equation is considered whose empirical analysis could confirm - or reject - the validity of Thirlwall's Law. Autoregressive Distributed Lags (Bounds) approach is used to establish the empirical adequacy of the Law. The analysis, working with data for 58 countries and covering the years 1960-2012, suggests that the Law may not hold for the decisive majority of countries considered.(original abstract)
Dostępne w
Biblioteka Główna Uniwersytetu Ekonomicznego w Katowicach
Pełny tekst
Pokaż
Bibliografia
Pokaż
  1. Aricioglu, E., Ucan, O. and Sarac, T. B. 2013. Thirlwall's Law: The Case of Turkey, 1987-2011. International Journal of Economics and Finance, vol. 5, no. 9, 59-68.
  2. Crane, L., Crowley, M. A. and Quayyum, S. 2007. Understanding the evolution of trade deficits. Trade elasticities of industrialized countries. Economic Perspectives Series of the Federal Reserve Bank of Chicago, vol. 31, no. 4.
  3. Ibara, C.A. and Blecker, R. 2016. Structural change, the real exchange rate and the balance of payments in Mexico, 1960-2012. Cambridge Journal of Economics, vol. 40, no 2, 507-539
  4. Imbs, J. and Mejean, I. 2010. Trade Elasticities. A Final Report for the European Commission. European Economy Economic Papers 432, Directorate General Economic and Monetary Affairs (DG ECFIN).
  5. Narayan, P. K. 2004. Reformulating Critical Values for the Bounds F-statistics Approach to Cointegration: An Application to the Tourism Demand Model for Fiji. Dept. of Economics Discussion Papers, no. 02/04, Monash University.
  6. Pesaran, M. H., Shin, Y. and Smith, R.J. 2001. Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, vol. 16, no. 3, 289-326.
  7. Podkaminer, L. 2015. "Thirlwall's Law" Reconsidered. Empirica DOI.1007/s10663-015-9310-6.
  8. Razmi, A. 2015. Correctly analysing the balance-ofpayments constraint on growth. Cambridge Journal of Economics, 1-28. http://doi.org/10.1093/cje/bev069.
  9. [9] Soukiazis, E. and Cerqueira, P. A. (eds.) 2012. Models of Balance of Payments Constrained Growth. History, Theory and Empirical Evidence, Palgrave Macmillan.
  10. [10] Tharnpanich, N. and McCombie, J.S.L. 2013. Balance-ofpayments constrained growth, structural change, and the Thai economy. Journal of Post Keynesian Economics, vol. 35, no. 4, 569-508.
  11. Thirlwall, A.P. 1979. The balance of payments constraint as an explanation of international growth rate differences. Banca Nazionale del Lavoro Quarterly Review, vol. 32, no. 128, 45-53.
  12. Thirlwall, A. P. 2011. Balance of payments constrained growth models: history and overview. University of Kent, School of Economics Discussion Papers, KDPE 1111, May.
  13. Thirlwall, A. P. and Hussain M. N. 1982. The balance of payments constraint, capital flows and growth rate differences between developing countries. Oxford Economic Papers, vol. 34, no. 5, 498-510.
  14. Wu, Y. 2011 Growth, expansion of markets, and income elasticities in world trade. IMF working paper no. 05/11.
Cytowane przez
Pokaż
ISSN
2543-411X
Język
eng
URI / DOI
http://dx.doi.org/10.19192/wsfip.sj1.2017.5
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