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FURTHER EVIDENCE ON THE VALIDITYOF THIRLWALL’S LAW

100%
Podkaminer L.
Zeszyty Naukowe Wyższej Szkoły Finansów i Prawa w Bielsku-Białej
|
2017
|
issue 1
75-86
EN
A simple equation is considered whose empirical analysis could confirm – or reject – the validity of Thirlwall’s Law. Autoregressive Distributed Lags (Bounds) approach is used to establish the empirical adequacy of the Law. The analysis, working with data for 58 countries and covering the years 1960-2012, suggests that the Law may not hold for the decisive majority of countries considered.
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