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An empirical analysis of Fiji's import demand function

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Author Info

  • Seema Narayan
  • Paresh Kumar Narayan

Abstract

Purpose – This paper aims to estimate a disaggregated import demand model for Fiji using relative prices, total consumption, investment expenditure and export expenditure variables for the period 1970 to 2000. Design/methodology/approach – The recently developed bounds testing approach to cointegration to test for a long run relationship is used, while the autoregressive distributed lag model is used to estimate short run and long run elasticities. These methodologies are shown to perform well in small sample sizes, particularly given that the bounds F-test critical values for small sample sizes generated by Narayan in 2004 and 2005 are used. Findings – Amongst the key results it is found: a long run cointegration relationship among the variables when import demand is the dependent variable; and import demand to be inelastic and statistically significant at the 1 per cent level with respect to all the explanatory variables in both the long-run and the short-run. Originality/value – The disaggregated import demand model estimated here provides a complete picture of the determinants of Fiji's imports. This model can be used by Fijian policy makers to draw pertinent policies and forecast import demand for Fiji.

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Bibliographic Info

Article provided by Emerald Group Publishing in its journal Journal of Economic Studies.

Volume (Year): 32 (2005)
Issue (Month): 2 (May)
Pages: 158-168

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Handle: RePEc:eme:jespps:v:32:y:2005:i:2:p:158-168

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Related research

Keywords: Fiji; Imports; Supply and demand;

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Cited by:
  1. Ben Salha, Ousama & Sebri, Maamar, 2013. "A multivariate analysis of the causal flow between renewable energy consumption and GDP in Tunisia," MPRA Paper 52572, University Library of Munich, Germany.
  2. Sadaf Majeed & Abdul Waheed, 2012. "Analyzing the Import Demand Function with Expenditure Components: Evidence from Pakistan," Transition Studies Review, Springer, vol. 19(2), pages 245-259, November.
  3. George Marbuah, 2013. "Modelling import demand behaviour in Ghana: a re-examination," Economics Bulletin, AccessEcon, vol. 33(1), pages 482-493.
  4. Ben Salha, Ousama & Jaidi, Zied, 2013. "Some new evidence on the determinants of money demand in developing countries – A case study of Tunisia," MPRA Paper 51788, University Library of Munich, Germany.
  5. Shahiduzzaman, Md & Alam, Khorshed, 2012. "A reassessment of energy and GDP relationship: A case of Australia," MPRA Paper 36256, University Library of Munich, Germany.
  6. HALICIOGLU, Ferda & Dell’Anno, Roberto, 2009. "An ARDL model of unrecorded and recorded economies in Turkey," MPRA Paper 24982, University Library of Munich, Germany.
  7. Huseyin Kalyoncu & Fatih Yucel, 2006. "An analytical approach on defense expenditure and economic growth: The case of Turkey and Greece," Journal of Economic Studies, Emerald Group Publishing, vol. 33(5), pages 336-343, November.
  8. Nelson Modeste, 2011. "An Empirical Analysis of the Demand for Imports in Three CARICOM Member Countries: An Application of the Bounds Test for Cointegration," The Review of Black Political Economy, Springer, vol. 38(1), pages 53-62, March.
  9. Bahmani-Oskooee, Mohsen & Ratha, Artatrana, 2008. "Exchange rate sensitivity of US bilateral trade flows," Economic Systems, Elsevier, vol. 32(2), pages 129-141, June.
  10. Frimpong, Joseph Magnus & Oteng-Abayie, Eric Fosu, 2006. "Aggregate Import demand and Expenditure Components in Ghana:An Econometric Analysis," MPRA Paper 599, University Library of Munich, Germany, revised 15 Aug 0002.
  11. Mohsen Bahmani-Oskooee & Ruixin Zhang, 2014. "Is there J-Curve effect in the commodity trade between Korea and rest of the world?," Economic Change and Restructuring, Springer, vol. 47(3), pages 227-250, August.
  12. Mohsen Bahmani-Oskooee & Jehanzeb Cheema, 2009. "Short-Run And Long-Run Effects Of Currency Depreciation On The Bilateral Trade Balance Between Pakistan And Her Major Trading Partners," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 34(1), pages 19-41, June.
  13. Tang, Chor-Foon & Lau, Evan, 2011. "The Behaviour of Disaggregated Public Expenditures and Income in Malaysia," Review of Applied Economics, Review of Applied Economics, vol. 7(1-2).
  14. repec:mos:druwps:2009-04 is not listed on IDEAS
  15. Fukumoto, Mayumi, 2012. "Estimation of China's disaggregate import demand functions," China Economic Review, Elsevier, vol. 23(2), pages 434-444.

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