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The short and long-run elasticities of agri-food imports in Venezuela

Author

Listed:
  • Alejandro Gutiérrez

    (Doctor en Estudios del Desarrollo del Centro de Estudios del Desarrollo de la Universidad Central de Venezuela (CENDESUCV). Profesor de la Universidad de los Andes, Centro de investigaciones Agroalimentarias “Edgar Abreu Olivo”, Mérida, Venezuela.)

  • Maritza Rosales

    (MSc. en Economía mención Economía y Políticas Agroalimentarias. Profesora de la Universidad de Los Andes, Centro de investigaciones Agroalimentarias “Edgar Abreu Olivo”, Mérida, Venezuela.)

Abstract

The objective of the paper is to calculate the elasticities of the demand for agri-food imports per capita (MAApc), for the periods of 1990-2013. From the estimation of a Partial Adjustment model, the short and long-term impact of the income (Gross Domestic Product per capita, GDPpc) and the price (Real Eff ective Exchange Rate) in the MAApc will be determined. The results show that total imports in the short and long term are inelastic against changes in the real exchange rate, while they are elastic in the face of changes in GDPpc. The GDPpc is the variable that most infl uences the variations of the MAApc, both in the short and the long term.

Suggested Citation

  • Alejandro Gutiérrez & Maritza Rosales, 2017. "The short and long-run elasticities of agri-food imports in Venezuela," Economía, Instituto de Investigaciones Económicas y Sociales (IIES). Facultad de Ciencias Económicas y Sociales. Universidad de Los Andes. Mérida, Venezuela, vol. 42(44), pages 37-54, july-dece.
    • Handle: RePEc:ula:econom:v:42:y:2017:i:44:p:37-54
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    More about this item

    Keywords

    Imports; elasticities; income; price; demand.;
    All these keywords.

    JEL classification:

    • F1 - International Economics - - Trade
    • F11 - International Economics - - Trade - - - Neoclassical Models of Trade

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