The Balance of Payments Constrained Economic Growth Model: The Case of Algeria (1980-2019)
Abstract
The aim of this study is to test the validity of Thirlwall’s Law in Algeria from 1980 to 2019, which is the first generation or simple model "the balance of payments constraint on economic growth", using the Autoregressive Limit Test (ARDL) model. The experimental results indicate that the import is integrated with the terms of trade and the gross domestic product, and that the growth rates restricted to the balance of payments do not correspond to the real growth rates. Algeria's balance of payments is not a constraint on economic growth.
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References
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