Time series data for Sri Lanka span periods of pervasive trade and exchange restrictions along with periods of liberalized trade. This paper implements a structural econometric model of aggregate imports which incorporates the implications of the shifts in the policy regime. The results demonstrate that the model outperforms the existing alternatives both on statistical and economic grounds. The estimated elasticities, in contrast to the available evidence, have correct signs, high statistical significance, and plausible magnitudes. The implications for policy analysis like calculation of equilibrium exchange rate are discussed. Special Note: If you are looking for the paper titled "Import Demand Under Trade and Exchange Rate Restrictions: A Structural Econometric Approach with an Application to India", it has been withdrwan temporarily. A revised version will be posted in near future.
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Paper provided by EconWPA in its series International Trade with number
0012002.
Length: Date of creation: 08 Feb 2001 Date of revision:
04 Apr 2002 Handle: RePEc:wpa:wuwpit:0012002
Note: Type of Document - Tex; prepared on IBM PC ; to print on HP; figures: none. Tables included.. none Contact details of provider: Web page: http://129.3.20.41
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Find related papers by JEL classification: F14 - International Economics - - Trade - - - Country and Industry Studies of Trade O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment
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