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EMPIRICAL EVIDENCE OF THE BALANCE OF PAYMENTS CONSTRAINED GROWTH IN CUBA. THE EFFECTS OF COMERCIAL REGIMES SINCE 1960

Guadalupe Fugarolas Álvarez-Ude (), Isis Mañalich Gálvez and David Gómez ()

MPRA Paper from University Library of Munich, Germany

Abstract: This paper seeks to investigate whether the balance of payments has been a key determinant of the Cuban long-term economic growth during different commercial policy regimes spanning over the period 1960 to 2004. We focus here on built the impact of terms of trade movements into a specification of Thirlwall’s hypothesis. Cointegration multivariate tests for non-stationary series reveal that economic growth, exports of goods and services and terms of trade are driven by a common stochastic trend and finding support for an economic growth path constrained by the country own external demand position

Keywords: Cuba; Thirlwall’s model and cointegration (search for similar items in EconPapers)
JEL-codes: C32 C22 F31 F43 (search for similar items in EconPapers)
Date: 2008-02-04
New Economics Papers: this item is included in nep-int
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:6993

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