Impact of foreign inflows on consumption : an econometric analysis for six developing countries 1960-83 (Английский)

This paper analyzes the relationship between foreign inflows and public and private consumption for six small open economies: Bolivia, Costa Rica, Malawi, Senegal, Sudan, and Thailand. It differs from previous work in four aspects: (i) the direct and indirect effects of foreign inflows on consumption are differentiated because of divergent policy implications; (ii) the problem of simultaneity between consumption and income is rectified by using Instrumental...
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