Empirical Evidence Of The Balance Of Payments Constrained Growth In Cuba. The Effects Of Comercial Regimes Since 1960
This 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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- Juan Carlos Moreno-Brid, 1999. "Mexico's Economic Growth and the Balance of Payments Constraint: A cointegration analysis," International Review of Applied Economics, Taylor & Francis Journals, vol. 13(2), pages 149-159.
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