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Time Series Analysis of Export Demand Equations

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  • Claudio Montenegro
  • A. Senhadji Semlali
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    Abstract

    The paper estimates export demand elasticities for a large number of developing and developed countries, using time-series techniques that account for the nonstationarity in the data. The average long-run price and income elasticities are found to be approximately -1 and 1.5, respectively. Thus, exports do react to both the trade partners’ income and to relative prices. Africa faces the lowest income elasticities for its exports, while Asia has both the highest income and price elasticities. The price and income elasticity estimates have good statistical properties.

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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 98/149.

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    Length: 29
    Date of creation: 01 Oct 1998
    Date of revision:
    Handle: RePEc:imf:imfwpa:98/149

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    1. Marquez, Jaime & McNeilly, Caryl, 1988. "Income and Price Elasticities for Exports of Developing Countries," The Review of Economics and Statistics, MIT Press, vol. 70(2), pages 306-14, May.
    2. Riedel, James, 1984. "Trade as the Engine of Growth in Developing Countries, Revisited," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 94(373), pages 56-73, March.
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    Cited by:
    1. J. Love & E. Turner, 2001. "Exports, domestic policy and world markets: a panel study," Journal of International Development, John Wiley & Sons, Ltd., John Wiley & Sons, Ltd., vol. 13(5), pages 615-627.
    2. Mutz,Christine & Ziesemer,Thomas, 2005. "Simultaneous Estimation of Income and Price Elasticities of Export Demand, Scale Economies and Total Factor Productivity Growth for Brazil," Research Memorandum, Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT) 004, Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT).
    3. Yuko Kinoshita, 2011. "Sectoral Composition of Foreign Direct Investment and External Vulnerability in Eastern Europe," IMF Working Papers, International Monetary Fund 11/123, International Monetary Fund.
    4. Bernardina Algieri, 2004. "Price and Income Elasticities of Russian Exports," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 1(2), pages 175-193, December.
    5. Michael Funke & Ralf Ruhwedel, 2002. "Export variety and export performance: Empirical evidence for the OECD countries," Review of World Economics (Weltwirtschaftliches Archiv), Springer, Springer, vol. 138(1), pages 97-114, March.
    6. Lawrence Edwards & Robert Z. Lawrence, 2006. "South African Trade Policy Matters: Trade Performance and Trade Policy," NBER Working Papers 12760, National Bureau of Economic Research, Inc.
    7. Shane, Mathew & Roe, Terry L. & Somwaru, Agapi, 2008. "Exchange Rates, Foreign Income, and U.S. Agricultural Exports," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, Northeastern Agricultural and Resource Economics Association, vol. 37(2), October.
    8. Emilio Sacerdoti & Gonzalo Salinas & Abdikarim Farah, 2009. "The Macroeconomic Impact of Scaled-Up Aid," IMF Working Papers, International Monetary Fund 09/36, International Monetary Fund.
    9. Benkovskis, Konstantins, 2005. "Econometric analysis and forecasting of Latvia's balance of payments," MPRA Paper 23274, University Library of Munich, Germany.

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