The validity of the balance-of-payments-constrained growth model for a small economy in transition: the case of Slovenia
The paper estimates the validity of the balance-of-payments-constrained growth model in the case of the Slovenian economy with a cointegration approach. Three main conclusions can be drawn from the analysis. First, the results identified a long-run relationship between real gross domestic product and variables of real exports. Second, as the results from the basic model suggest, to ease the pressure from the balance-of-payments constraints on output growth, shifts in elasticities of export and import flows are required. Third, owing to the reported modernization needs of the Slovenian economy, persistence of import patterns, and empirically documented strong dependence of exports on sufficient imports, manipulation of export demand seems to be more justified.
Volume (Year): 26 (2003)
Issue (Month): 1 ()
|Contact details of provider:|| Web page: http://www.tandfonline.com/MPKE20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/MPKE20|
When requesting a correction, please mention this item's handle: RePEc:mes:postke:v:26:y:2003:i:1:p:69-93. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Chris Longhurst)
If references are entirely missing, you can add them using this form.