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EU Accession Effects on the Demand for Manufactures: the Case of Greece

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Author Info
Minoas Koukouritakis () (Department of Economics, University of Crete, Greece)

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Abstract

This paper analyzes the demand for manufactures in Greece and estimates the effects from the EU accession. An error correction specification of the Almost Ideal Demand System has been used. This formulation performs well on theoretical grounds, as the restrictions that are imposed by the demand theory are supported by the data provided. The results indicate that the domestic sales of manufactures are substitutes with imports from the EU and the rest of the world. Using the residuals approach, it is found that after the EU accession, imports from both sources substituted for a large part of the domestic sales.

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File URL: http://economics.soc.uoc.gr/wpa/docs/Koukouritakis.pdf
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Publisher Info
Paper provided by University of Crete, Department of Economics in its series Working Papers with number 0506.

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Length: 26 pages
Date of creation: 00 2005
Date of revision:
Handle: RePEc:crt:wpaper:0506

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Related research
Keywords: Elasticities; Error correction Almost Ideal Demand System; EU accession;

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Find related papers by JEL classification:
C30 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - General
F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
F15 - International Economics - - Trade - - - Economic Integration

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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. Winters, L. Alan, 1984. "Separability and the specification of foreign trade functions," Journal of International Economics, Elsevier, vol. 17(3-4), pages 239-263, November. [Downloadable!] (restricted)
  2. Engle, Robert F & Granger, Clive W J, 1987. "Co-integration and Error Correction: Representation, Estimation, and Testing," Econometrica, Econometric Society, vol. 55(2), pages 251-76, March. [Downloadable!] (restricted)
  3. Pashardes, Panos, 1993. "Bias in Estimating the Almost Ideal Demand System with the Stone Index Approximation," Economic Journal, Royal Economic Society, vol. 103(419), pages 908-15, July. [Downloadable!] (restricted)
  4. Karagiannis, G. & Katranidis, S. & Velentzas, K., 2000. "An error correction almost ideal demand system for meat in Greece," Agricultural Economics, Blackwell, vol. 22(1), pages 29-35, January. [Downloadable!] (restricted)
  5. Balcombe, K. G. & Davis, J. R., 1996. "An application of cointegration theory in the estimation of the almost ideal demand system for food consumption in Bulgaria," Agricultural Economics, Blackwell, vol. 15(1), pages 47-60, September. [Downloadable!] (restricted)
  6. Georgakopoulos, Theodore A., 1993. "Trade and Welfare Effects of Common Market Membership: An Ex-post Evaluation for Greece," Economia Internazionale / International Economics, Camera di Commercio di Genova, vol. 46(4), pages 360-376.
  7. Arghyrou, Michael G, 2000. "EU Participation and the External Trade of Greece: An Appraisal of the Evidence," Applied Economics, Taylor and Francis Journals, vol. 32(2), pages 151-59, February. [Downloadable!] (restricted)
  8. Winters, L Alan, 1984. "British Imports of Manufactures and the Common Market," Oxford Economic Papers, Oxford University Press, vol. 36(1), pages 103-18, March. [Downloadable!] (restricted)
  9. Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-26, June. [Downloadable!] (restricted)
  10. Alvaro Escribano & Clive W.J. Granger, 1996. "Investigating the Relationship between Gold and Silver Prices," University of California at San Diego, Economics Working Paper Series 96-38, Department of Economics, UC San Diego. [Downloadable!]
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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. Minoas Koukouritakis, 2005. "EU Accession Effects on Export Performance: The Case of Greece," Working Papers 0516, University of Crete, Department of Economics. [Downloadable!]
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