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The International Demand for Thailand's Rice Exports

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  • Prof Peter G. Warr
  • Fracnes J. Wollmer

Abstract

The familiar 'small country' assumption is tested empirically in this paper, focussing upon the long-run international demand for Thailand's rice exports and drawing upon recent developments in the statistical analysis of economic time series. A relatively robust long-run price elasticity of export demand is obtained, at just under 2. The literature on the export demand for manufactured goods has shown the central importance of the 'normalisation' used during estimation. Our results suggest that this issue may not be as important in the case of primary commodity exports, at least not where the exporting country possesses a degree of monopoly power.
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Suggested Citation

  • Prof Peter G. Warr & Fracnes J. Wollmer, 1996. "The International Demand for Thailand's Rice Exports," Trade and Development 96/10, Australian National University, Department of Economics.
    • Handle: RePEc:wop:anuetd:9610
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    References listed on IDEAS

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    1. Muscatelli, V A & Srinivasan, T G & Vines, D, 1992. "Demand and Supply Factors in the Determination of NIE Exports: A Simultaneous Error-Correction Model for Hong Kong," Economic Journal, Royal Economic Society, vol. 102(415), pages 1467-1477, November.
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    Cited by:

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    2. Uttam Kumar Deb & Mahabub Hossain & Steve Jones, 2011. "Rethinking Food Security Strategy: Self-sufficiency or Self-reliance," Working Papers id:3458, eSocialSciences.

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