Testing Some Restrictions in a Time Series Cross-Section Model: A Study of Seven LDCs

H Leon and Hassan Molana

The Manchester School of Economic & Social Studies, 1988, vol. 56, issue 1, 1-15

Abstract: The monetary approach to the balance of payments has been considered appropriate for analyzing problems facing less developed countries. A model in this t radition developed by Khan and Knight (1981) is examined using both p ooled and individual country data. Restrictions imposed on the model are tested within a less restricted framework. Results are found to b e sensitive to individual country specification, a priori restriction s, and estimation period. The paper points to the need for intensive testing of assumptions contained, both implicit and explicit, in a "r epresentative" model. Copyright 1988 by Blackwell Publishers Ltd and The Victoria University of Manchester

Date: 1988
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Persistent link: https://EconPapers.repec.org/RePEc:bla:manch2:v:56:y:1988:i:1:p:1-15

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