Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/106142
Authors: 
Senay, Acikgöz
Mert, Merter
Year of Publication: 
2015
Series/Report no.: 
Economics Discussion Papers 2015-2
Abstract: 
This study estimates and tests the endogeneity of the natural rate of growth using the balance-of-payments consistent rate of growth (BPCRG) instead of the actual rate of growth. Our approach is also theoretically compatible with the one proposed by Thirlwall (2001). Following this idea, we first calculated the BPCRG and then tested the Thirlwall's Law for the U.S. economy. We then proceeded to test the endogeneity using the BPCRG. Empirical results we obtained support Thirlwall's Law and endogeneity.
Subjects: 
economic growth
Thirlwall's Law
the endogeneity of the natural rate of growth
the bounds testing approach
ARDL
FM-OLS
JEL: 
O40
E10
E23
C22
Creative Commons License: 
http://creativecommons.org/licenses/by/3.0/
Document Type: 
Working Paper

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