TESTS OF THE MAIZELS' HYPOTHESIS FOR LATIN AMERICAN COUNTRIES Available to Purchase

Maizels hypothesizes that export provides more boosts for saving than the non‐export part of GDP. We use recent time series techniques of unit root and cointegration to test the Maizels' hypothesis for nine Latin American countries. Cointegrated vectors and OLS estimates in first differences of the variables provide support for the Maizels' hypothesis.