Further evidence on the validity of Thirlwall’s law
Further evidence on the validity of Thirlwall’s law
Author(s): Leon PodkaminerSubject(s): Economy, Law on Economics
Published by: Wydawnictwo Wyższej Szkoły Finansów i Prawa w Bielsku-Białej
Keywords: Thirlwall’s Law; trade elasticities; balanced growth; co-integration; ARDL
Summary/Abstract: A simple equation is considered whose empirical analysis could confirm – or reject – the validity of Thirlwall’s Law. Autoregressive Distributed Lags (Bounds) approach is used to establish the empirical adequacy of the Law. The analysis, working with data for 58 countries and covering the years 1960-2012, suggests that the Law may not hold for the decisive majority of countries considered.
Journal: Zeszyty Naukowe Wyższej Szkoły Finansów i Prawa w Bielsku-Białej
- Issue Year: 2017
- Issue No: 1
- Page Range: 75-86
- Page Count: 12
- Language: English
