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A Macroeconometric Model for Developing Countries

Author

Listed:
  • Nadeem U. Haque

    (International Monetary Fund)

  • Kajal Lahiri

    (International Monetary Fund)

  • Peter J. Montiel

    (International Monetary Fund)

Abstract

A small macroeconomic model based on familiar theoretical considerations is developed and estimated using data from 31 developing countries. Efficient estimation techniques are used to control for country heterogeneity under the assumption of rational expectations. The estimates and the test statistics suggest that the model could serve well as a frame-work for macroeconomic analysis of developing countries. The specification of the model allows the hypothesis of capital mobility to be explicitly tested, and the empirical analysis suggests that, on average, developing countries have exhibited a high degree of capital mobility.

Suggested Citation

  • Nadeem U. Haque & Kajal Lahiri & Peter J. Montiel, 1990. "A Macroeconometric Model for Developing Countries," IMF Staff Papers, Palgrave Macmillan, vol. 37(3), pages 537-559, September.
    • Handle: RePEc:pal:imfstp:v:37:y:1990:i:3:p:537-559
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    1. Daniel Zerfu Gurara, 2013. "This paper presents a macroeconometric model of Rwanda. The model is constructed to analyze the macroeconomic effects of various policy interventions. It captures the supply constrained nature of the ," Working Paper Series 476, African Development Bank.
    2. Kannapiran, Chinna A., 2001. "Macroeconomic impacts of export commodity price subsidy in Papua New Guinea," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 45(3), pages 1-22.
    3. Musila, Jacob Wanjala, 2002. "An econometric model of the Malawian economy," Economic Modelling, Elsevier, vol. 19(2), pages 295-330, March.
    4. Diego Nicolás Moccero, 2001. "Esquemas Cambiarios y Monetarios Alternativos en un Modelo de Interdependencia Macroeconómica entre Argentina y Brasil," Department of Economics, Working Papers 031, Departamento de Economía, Facultad de Ciencias Económicas, Universidad Nacional de La Plata.
    5. Basil Dalamagas, 2000. "Public sector and economic growth: the Greek experience," Applied Economics, Taylor & Francis Journals, vol. 32(3), pages 277-288.
    6. Thomas M Fullerton Jr & Eiichi Araki, 2004. "New Directions in Latin American Macroeconometrics," Development and Comp Systems 0408002, University Library of Munich, Germany.
    7. Pami Dua & B.L. Pandit, 2001. "Interest Rate Determination in India: The Role of Domestic and External Factors," Working papers 92, Centre for Development Economics, Delhi School of Economics.
    8. Dean DeRosa, 1992. "Protection and export performance in Sub-Saharan Africa," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 128(1), pages 88-124, March.
    9. Dua, Pami & Pandit, B. L., 2002. "Interest rate determination in India: domestic and external factors," Journal of Policy Modeling, Elsevier, vol. 24(9), pages 853-875, December.
    10. Krishna Akikina & Hamed Al-Hoshan, 2003. "Independence of monetary policy under fixed exchange rates: the case of Saudi Arabia," Applied Economics, Taylor & Francis Journals, vol. 35(4), pages 437-448.
    11. Aykut Kibritcioglu & Bengi Kibritcioglu, 2004. "Real Exchange Rate Misalignment in Turkey, 1987-2003 (in Turkish)," Macroeconomics 0403006, University Library of Munich, Germany, revised 22 Apr 2004.
    12. Giorgioni, Gianluigi & Holden, Ken, 2002. "The crisis of the CFA Franc zone: the case of Cote d'Ivoire," Economic Modelling, Elsevier, vol. 19(4), pages 531-564, August.
    13. Rankaduwa, Wimal & Rao, U. L. Gouranga & Ogwang, Tomson, 1995. "A forecasting model of the Sri Lankan economy," Economic Modelling, Elsevier, vol. 12(4), pages 343-375, October.
    14. Carbonnier, Gilles, 2002. "The Competing Agendas of Economic Reform and Peace Process: A Politico-Economic Model Applied to Guatemala," World Development, Elsevier, vol. 30(8), pages 1323-1339, August.
    15. Zelal Kotan & Mesut Saygili, 1999. "Estimating an Import Function for Turkey," Discussion Papers 9909, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    16. Schmidt-Hebbel, Klaus & Serven, Luis, 1992. "Dynamic response to foreign transfers and terms-of-trade shocks in open economies," Policy Research Working Paper Series 1061, The World Bank.
    17. Nicolas Ponty, 2005. "Un modèle MAcroDYNamique des économies des pays membres de l’UEMOA : MADYN," Documents de travail 118, Groupe d'Economie du Développement de l'Université Montesquieu Bordeaux IV.

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