Empirical Testing of Export-led and Balance of Payments Constrained Growth: The Case of Portugal

Virmantas Kvedaras

Chapter 6 in Models of Balance of Payments Constrained Growth, 2012, pp 168-186 from Palgrave Macmillan

Abstract: Abstract A testing approach developed in Kvedaras (2007) is applied to the case of Portugal to test for the statistical acceptability of model-implied restrictions in the cointegrated vector autoregression of export-led and balance of payments constrained growth, using yearly data 1970–2009.* A potential structural break is found in the vector autoregression in 1976–77. The growth-model implied restrictions — the number of cointegrating vectors and a set of (over-identifying) restrictions on parameters — are fully consistent with the data in the post-break period.

Keywords: Gross Domestic Product; Unit Root; Structural Break; Final Prediction Error; Export Ratio (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-02395-7_7

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DOI: 10.1057/9781137023957_7

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