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Applied Economics Letters Volume 29, 2022 - Issue 15
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Research Article

Testing the balance of payments constrained growth model in a VECM framework: the cases of Brazil, Korea, Mexico and Turkey

Ayse Ozden BirkanYaşar University, Izmir, TurkeyCorrespondence[email protected]
Pages 1414-1419 | Published online: 15 Jun 2021

References

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  • Darku, A. B. 2019. Exports, capital inflows, relative prices, and income growth in South Korea: An application of the balance of payments constraint growth model, International Journal of Finance & Economics, 24(1), 288–295.
  • Johansen, S. 1995. Likelihood Based Inference in Cointegrated Vector Autoregressive Models. Oxford: Oxford University Press.
  • Kvedaras, V. 2007. “Testing the Demand Led and BOP Constrained Growth Model: A System Approach.” Applied Economics Letters 14 (5): 367–370. doi:https://doi.org/10.1080/13504850500426251.
  • McCombie, J. S. L. 1997. “On the Empirics of Balance-Of-Payments–Constrained Growth.” Journal of Post Keynesian Economics 19 (3): 345–375. doi:https://doi.org/10.1080/01603477.1997.11490116.
  • McCombie, J. S. L. 2011. “Criticisms and Defences of the Balance of Payments Constrained Growth Model: Some Old, Some New.” PSL Quarterly Review 64 (259): 353–392.
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  • OxMetrics. 2018. Timberlake Consultants Limited. UK: Richmond upon Thames.
  • Perraton, J. 2003. “Balance of Payments Constrained Growth and Developing Countries: An Examination of Thirlwall’s Hypothesis.” International Review of Applied Economics 17 (1): 1–22. doi:https://doi.org/10.1080/713673169.
  • Pesaran, M. H., and Y. Shin. 2002. “Long-run Structural Modelling.” Econometric Reviews 21 (1): 49–87. doi:https://doi.org/10.1081/ETC-120008724.
  • Setterfield, M. 2011. “The Remarkable Durability of Thirlwall’s Law.” PSL Quarterly Review 64 (259): 393–427.
  • Thirlwall, A. P. 1979. “The Balance of Payments Constraint as an Explanation of International Growth Rate Differences.” Banca Nazionale del Lavoro Quarterly Review 128: 45–53.
  • Thirlwall, A.P. 2011. Balance of payments constrained growth models: history and overview, PSL Quarterly Review, 64(259), 307–351.

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