Tuck, Cheong Tang
Balance-of-payments-constrained growth model: Empirical evidence from Malaysia.
International Journal of Management Studies (IJMS), 12 (1).
Applying cointegration approach, the present study aims to examine the validity of the Harrod Thirlwall balance-of-payments-constrained growth model in Malaysia. The results show that real income and real exports are not cointegrated during the period 1960-2000. This reveals that the Harrod- Thirlwall balance-of-payments-constrained growth hypothesis has not been supported in Malaysia.
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