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2007 | 2 | 2 | 53-56

Article title

Are Imports and Exports Cointegrated: the Case of Bulgaria between 1967 and 2004

Authors

Title variants

Languages of publication

EN

Abstracts

EN
This note tests current account sustainability in Bulgaria from 1967 to 2004. Empirical analysis adopts various unit root and cointegration tests with structural breaks. Evidence of a long run relation between exports and imports in Bulgaria is shown, despite the financial crisis of 1996/8. Intertemporal current account constraint is not violated in Bulgaria.

Publisher

Year

Volume

2

Issue

2

Pages

53-56

Physical description

Dates

published
2007-11-01
online
2008-03-04

Contributors

  • EQUIPPE, Faculty of Economics, University of Lille I, 59655 Villeneuve d'Ascq Cedex, France

References

  • Arize A., 2002, Imports and exports in 50 countries: tests of cointegration and structural breaks, International Review of Economics and Finance 11, 101-115.[Crossref]
  • Gunlach E. and S. Sinn, 1992, Unit roots tests for the current account balance: implications to international capital mobility, Applied Economics 24, 617-727.[Crossref]
  • Hakkio C. and M. Rush, 1991, Is the budget deficit ‘too large’?, Economic Inquiry 4, 429-445.[Crossref]
  • Husted S., 1992, The emerging US current Account deficit in the 1980s: a cointegration analysis, The Review of Economics and Statistics 74, 159-166.[Crossref]
  • Johansen S. and K. Juselius, 1990, Maximum likelihood estimation and inference on cointegration with applications for the demand for money, Bulletin of Economics and Statistics, 52, 169-210.
  • Liu P. and E. Tanner, 1995, Intertemporal solvency and breaks in the US deficit process: a maximum likelihood cointegration approach, Applied Economics Letters 2, 231-235.[Crossref]
  • MacKinnon J., 1991, Critical values for cointegration tests, in R. F. Engle and C. W. J. Granger, eds., Long Run Relation-ships: Readings in Cointegration, (Oxford University Press) 267-76.
  • Narayan P. K. and S. Narayan, 2005, Are exports and imports cointegrated? Evidence from 22 least developed countries, Applied Economics Letters, 12, 375-378.[Crossref]
  • Pesaran M. H., Y. Shin and R. J. Smith, 2001, Bounds testing approaches to the analysis of level relationships, Journal of Applied Econometrics 16, 289-326.[Crossref]
  • Stock J. H. and M. Watson, 1993, A simple estimator of cointegrating vectors in higher order integrated systems, Econometrica 61, 783-820.[Crossref]
  • Wu J.-l, S. Fountas & S.-l Chen, 1996, Testing for the sustainability of the current account deficit in two industrial countries, Economics Letters, 52, 193-198.
  • Zivot E. and D. Andrews, 1992, Further evidence on the Great Crash, the oil-price shock, and the unit-root hypthesis, Journal of Business and Economic Statistics 10, 251-270.

Document Type

Publication order reference

Identifiers

YADDA identifier

bwmeta1.element.doi-10_2478_v10033-007-0005-1
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