The empirical literature on Kaleckian growth and distribution models has almost exclusively investigated developed countries. These studies have used varied econometric techniques and estimation methods, but little attention was given to the developing countries. Onaran and Galanis (2013)...

The empirical literature on Kaleckian growth and distribution models has almost exclusively investigated developed countries. These studies have used varied econometric techniques and estimation methods, but little attention was given to the developing countries. Onaran and Galanis (2013)...

A residual-based test for cointegration is proposed. The method of two-stage least squares is used to estimate the cointegration model parameters. The residuals are then tested for the existence of a unit root using the augmented Dickey-Fuller test.