Balance-of-payments constrained growth model for the Turkish economy
Economic Modelling, cilt.35, ss.140-144, 2013 (SSCI, Scopus)
- Yayın Türü: Makale / Tam Makale
- Cilt numarası: 35
- Basım Tarihi: 2013
- Doi Numarası: 10.1016/j.econmod.2013.06.019
- Dergi Adı: Economic Modelling
- Derginin Tarandığı İndeksler: Social Sciences Citation Index (SSCI), Scopus
- Sayfa Sayıları: ss.140-144
- Anahtar Kelimeler: Balance-of-payments constrained growth model, Johansen cointegration methodology, Thirlwall model
- Ankara Hacı Bayram Veli Üniversitesi Adresli: Hayır
Özet
Economists have investigated the relationship between output and export in order to explain economic growth for long years. Numerous studies have found very close correspondence between the growth of output and export. It is commonly known that Thirlwall's papers indicate very tight relationship between the growth of output and the ratio of the growth of exports to the income elasticity of demand for imports. This paper aims to apply Thirlwall's balance-of-payments-constrained (BPC) model for the Turkish economy for 1968-2011 period. This research also evaluates the procedures of testing Thirlwall's principle by estimation of the income elasticity of demand for imports using the test of stationarity and cointegration methods. The findings are in accordance with the Harrod-Thirlwall growth model. The test results of Johansen cointegration procedure and the comments on these results are presented as well. © 2013 The Authors.