Trade liberalization effects on commodity imports in Cameroon
AbstractThe hypotheses that an increase in relative price elasticities is not associated with increased import substitution and that an increase in income and foreign exchange elasticities is not associated with a greater degree of “openness” of the Cameroon economy are investigated using cointegration and error-correction modelling. Disaggregation of total imports into raw materials, consumer, intermediate and capital goods shows that long-run relative price elasticities of import demand are greater than short-run values, being above unity for raw materials and consumer goods; thus leading to rejection of the first hypothesis for these categories of imports. Imports are income-elastic for capital and intermediate goods and foreign exchange inelastic for all categories of import, implying that the Cameroon economy has been less open to trade in general. Some policy implications of the results are provided.
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Bibliographic InfoArticle provided by Emerald Group Publishing in its journal Journal of Economic Studies.
Volume (Year): 25 (1998)
Issue (Month): 3 (September)
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- Chassem, Nacisse Palissy, 2011.
"Hypothèse de Thirlwall: cas des pays de la zone Franc
[Thirlwall’s hypothesis : the case of countries of the Franc Zone]," MPRA Paper 29990, University Library of Munich, Germany.
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- Hoque, Mohammad Monjurul & Yusop, Zulkornain, 2010. "Impacts of trade liberalisation on aggregate import in Bangladesh: An ARDL Bounds test approach," Journal of Asian Economics, Elsevier, vol. 21(1), pages 37-52, February.
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