Empirical Evidence Of The Balance Of Payments Constrained Growth In Cuba. The Effects Of Comercial Regimes Since 1960
AbstractThis paper seeks to investigate whether the balance of payments has been a key determinant of the Cuban long-term economic growth during different commercial policy regimes spanning over the period 1960 to 2004. We focus here on built the impact of terms of trade movements into a specification of Thirlwall’s hypothesis. Cointegration multivariate tests for non-stationary series reveal that economic growth, exports of goods and services and terms of trade are driven by a common stochastic trend and finding support for an economic growth path constrained by the country own external demand position
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 6993.
Date of creation: 04 Feb 2008
Date of revision:
Cuba; Thirlwall’s model and cointegration;
Find related papers by JEL classification:
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
- C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models &bull Diffusion Processes
- F31 - International Economics - - International Finance - - - Foreign Exchange
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
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