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Import demand in heterogeneous panel setting

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Author Info
Nasri Harb

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Abstract

To study the elasticities of import demand function, a heterogeneous panel is built with data of 40 countries and using panel unit root tests (Im et al ., 1997) and panel cointegration tests (Pedroni, 2004). The model is tested with two previously used activity variables: GDP and GDP minus Export for a performance comparison. To estimate elasticities, use is made of two modified panel versions of FMOLS and DOLS developed by Pedroni (1996, 2000, 2001). The tests prove that GDP outperforms GDP minus Exports as an activity variable in the cointegration context. FMOLS and DOLS give close results when individual estimates are done. When between-dimension estimators are used, conflicting results are obtained. Then, the sample is split into developed and developing countries and it is shown that income elasticity in developing countries are not different than unity on average and are higher than in developed countries contradicting previous literature results.

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Publisher Info
Article provided by Taylor and Francis Journals in its journal Applied Economics.

Volume (Year): 37 (2005)
Issue (Month): 20 (November)
Pages: 2407-2415
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Handle: RePEc:taf:applec:v:37:y:2005:i:20:p:2407-2415

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Dilip Dutta & Nasiruddin Ahmed, 2001. "An Aggregate Import Demand Function for India: A Cointegration Analysis," ASARC Working Papers 2001-02, Australian National University, Australia South Asia Research Centre. [Downloadable!]
  2. Pedroni, Peter, 1999. " Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 61(0), pages 653-70, Special I. [Downloadable!] (restricted)
  3. Peter C.B. Phillips & Hyungsik R. Moon, 1999. "Linear Regression Limit Theory for Nonstationary Panel Data," Cowles Foundation Discussion Papers 1222, Cowles Foundation, Yale University. [Downloadable!]
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  4. Houthakker, Hendrik S & Magee, Stephen P, 1969. "Income and Price Elasticities in World Trade," The Review of Economics and Statistics, MIT Press, vol. 51(2), pages 111-25, May. [Downloadable!] (restricted)
  5. Dilip Dutta & Nasiruddin Ahmed, . "An Aggregate Import Demand Function for India: A Cointegration Analysis," Working Papers 2001-3, University of Sydney, Department of Economics. [Downloadable!]
  6. Peter Pedroni, 2001. "Purchasing Power Parity Tests In Cointegrated Panels," The Review of Economics and Statistics, MIT Press, vol. 83(4), pages 727-731, November. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Roland Beck & Annette Kamps, 2009. "Petrodollars and Imports of Oil Exporting Countries," Working Paper Series 1012, European Central Bank. [Downloadable!]
  2. Adam, Antonis / Katsimi, Margarita / Moutos, Thomas, 2008. "Inequality and the Import Demand Function," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
  3. Yoichi, Matsubayashi & Shigeyuki, Hamori, 2009. "Empirical Analysis of Import Demand Behavior of Least Developed Countries," MPRA Paper 17266, University Library of Munich, Germany. [Downloadable!]
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