Figures & data
Figure 1. An unconditional cross-correlation function with lags/leads up to eight periods. Source: author’s calculation.
Table 1. Long-run relationship based on selected variables.
Figure 2. Unconditional vs. conditional S-curve (lnITOT to TB). Source: author’s calculation.
Figure 3. Unconditional vs. conditional S-curve (lnREER to TB). Source: author’s calculation.
Figure A1. Graphical display of the variables used in modelling. Source: author’s calculation.
Figure A2. Percentage change in income terms of trade and real effective exchange rate vs. trade balance. Source: author’s calculation.
Table A1. Variance decomposition from Model I.
Table A2. Variance decomposition from Model II.