DEPARTMENT OF ECONOMICS Working Paper Balance of Payments Constrained Growth Model : The Case of India

@inproceedings{Razmi2005DEPARTMENTOE,
  title={DEPARTMENT OF ECONOMICS Working Paper Balance of Payments Constrained Growth Model : The Case of India},
  author={Arslan Razmi},
  year={2005}
}
  • Arslan Razmi
  • Published 2005
This study applies the Balance of Payments Constrained Growth (BPCG) model to India, a large developing country with a relatively low trade to GDP ratio. Rather than assuming similar elasticities of substitution between goods produced in different regions, the study extends the model to relax these assumptions. Johansen’s cointegration technique is employed to estimate trade parameters. Short-run adjustments are explored within a vector error correction framework. The average growth rates… CONTINUE READING

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