Access the full text.
Sign up today, get DeepDyve free for 14 days.
Loading next page...
/lp/emerald-publishing/testing-for-balance-of-payment-constraints-the-case-of-the-oil-h1AY75oX4L
References (9)
-
Mark Gersovitz (1982)
The estimation of the two-gap modelJournal of International Economics, 12
-
G. Maddala, F. Nelson (1974)
Maximum Likelihood Methods for Models of Markets in DisequilibriumEconometrica, 42
-
A. Dixit (1978)
The Balance of Trade in a Model of Temporary Equilibrium with RationingThe Review of Economic Studies, 45
-
R. Barro, Herschel Grossman (1971)
A General Disequilibrium Model of Income and EmploymentThe American Economic Review, 61
-
H. Chenery, M. Bruno (1962)
Development Alternatives in an Open Economy: The Case of IsraelThe Economic Journal, 72
-
R. Fair, Dwight Jaffee (1972)
Methods of Estimation for Markets in DisequilibriumEconometrica, 40
-
B. Smith (1983)
Limited Information, Credit Rationing, and Optimal Government Lending PolicyThe American Economic Review, 73
-
R. Fair, H. Kelejian (1974)
Methods of Estimation for Markets in Disequilibrium: A Further StudyEconometrica, 42
-
J. Stiglitz, A. Weiss (1981)
Credit Rationing in Markets with Imperfect InformationThe American Economic Review, 71
- Publisher
- Emerald Publishing
- Copyright
- Copyright © Emerald Group Publishing Limited
- ISSN
- 0144-3585
- DOI
- 10.1108/EUM0000000000144
- Publisher site
- See Article on Publisher Site
Abstract
A switching regression model is employed to test for the presenceof financial constraints in the determination of oil exporters importsfrom industrial countries. The main assumption of the model is theexogenous determination of this blocs terms of trade. The analysis usesboth discrete and smoothswitching techniques for estimatingdisequilibrium models. The results on the whole indicate the importanceof financial constraints in trade. Further support for the framework isprovided by the fact that separate estimations for the high and lowabsorbers appear to suggest that revenue from trade has been of greaterimportance for the former category.
Journal
Journal of Economic Studies – Emerald Publishing
Published: May 1, 1990