Do the BRICs and Emerging Markets Differ in their Agrifood Imports?
This study develops an import demand model to explore the role of income in explaining the trade performance of low-, middle- and high-income countries with a special emphasis on Brazil, Russia, India and China - the BRIC economies. The study estimates the impact of the growth in per capita income on the trade of agrifood products using data from 52 countries and 20 agrifood products for the years 1990-2006. The results suggest that China, Russia and Brazil now have more income elastic import demands than other middle-income countries. Conversely, the income elasticities of import demand in India are similar to other low-income countries and for the most part statistically equal to zero. Copyright (c) 2010 The Authors. Journal compilation (c) 2010 The Agricultural Economics Society.
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Volume (Year): 61 (2010)
Issue (Month): 1 ()
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