A model of adjustment and growth: An empirical analysis
This paper develops a model merging the monetary approach to the balance of payments and a neoclassical growth model into a unified framework in which inflation, growth, and the balance of payments are simultaneously determined. The empirical part of the paper presents estimates of the key parameters of the model for a sample of seven diverse developing countries and tests the validity of a subset of the theoretical assumptions. The estimated model is then used for a variety of comparative static exercises, including the effects of f i s c a l and monetary policy changes, and devaluation.
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- Reinhart, Carmen, 1989.
"A model of adjustment and growth: An empirical analysis,"
14101, University Library of Munich, Germany.
- Carmen M. Reinhart, 1990. "A Model of Adjustment and Growth: An Empirical Analysis," IMF Staff Papers, Palgrave Macmillan, vol. 37(1), pages 168-182, March.
- Reinhart, Carmen, 1990. "“A Model of Adjustment and Growth," MPRA Paper 8145, University Library of Munich, Germany.
- Reinhart, Carmen, 1991. "A model of adjustment and growth: An empirical analysis," MPRA Paper 13233, University Library of Munich, Germany.
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- Reinhart, Carmen & Khan, Mohsin, 1989.
"Private investment and economic growth in developing countries,"
13655, University Library of Munich, Germany.
- Khan, Mohsin S. & Reinhart, Carmen M., 1990. "Private investment and economic growth in developing countries," World Development, Elsevier, vol. 18(1), pages 19-27, January.
- Robinson, Sherman, 1971. "Sources of Growth in Less Developed Countries: A Cross-Section Study," The Quarterly Journal of Economics, MIT Press, vol. 85(3), pages 391-408, August.
- Khan, Mohsin S, 1987. "Macroeconomic Adjustment in Developing Countries: A Policy Perspective," World Bank Research Observer, World Bank Group, vol. 2(1), pages 23-42, January.
- Haque, Nadeem U & Montiel, Peter, 1989. "Consumption in Developing Countries: Tests for Liquidity Constraintsand Finite Horizons," The Review of Economics and Statistics, MIT Press, vol. 71(3), pages 408-15, August.
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