Import Demand Functions: Evidence From Cibs
AbstractThis paper adopts the bounds testing approach to test for the validity of the cointegration or stationarity restriction embodied in five import demand model specifications for CIBS during the period 1970-2007. It identifies long-run relationships in a subset of the five models for each CIBS countries. We find that long-run income elasticities are much higher compared to earlier studies and are higher than the short-run counterparts for CIBS. In addition, contrary to the traditional wisdom, price elasticities are not significantly negative for these countries.
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Bibliographic InfoArticle provided by Chung-Ang Unviersity, Department of Economics in its journal Journal Of Economic Development.
Volume (Year): 36 (2011)
Issue (Month): 4 (December)
Import Demand; ARDL; Bounds Test; Income Elasticities; Price Elasticities;
Find related papers by JEL classification:
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- O24 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy
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