Estimation of Armington Elasticities: An Application to the Philippines
AbstractThe elasticities of substitution between imported and domestically produced goods - Armington elasticities - are estimated in this paper for the Philippines. The estimated elasticities are intended for use in a large, empirically based computable general equilibrium model of the Philippine economy. Armington elasticities are known to be important for the properties of these models but are seldom estimated empirically. The results of this paper suggest that estimation is possible for developing countries, like the Philippines, for which economic data are generally considered poor, provided appropriate account is taken of the dynamic properties of the data.
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Bibliographic InfoPaper provided by The Australian National University, Arndt-Corden Department of Economics in its series Departmental Working Papers with number 1996-08.
Length: 25 pages
Date of creation: 1996
Date of revision:
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Computable General Equilibrium models; cointegrating models; Armington elasticities; international trade; the Philippines.;
Other versions of this item:
- Kapuscinski, Cezary A. & Warr, Peter G., 1999. "Estimation of Armington elasticities: an application to the Philippines," Economic Modelling, Elsevier, vol. 16(2), pages 257-278, April.
- Cezary A. Kapuscinski & Prof Peter G. Warr, 1996. "Estimation of Armington Elasticities: An Application to the Philippines," Trade and Development 96/8, Australian National University, Department of Economics.
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