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Estimating Long-Run Elasticities Of Jordanian Import Demand Function: 1980-2004 An Application Of Dynamic Ols

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  • HUSSAIN, Majeed

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Abstract

The paper estimates the long-run elasticities of import demand in Jordan over the period 1980-2004. The Engle-Granger test of co-integration, fails to find favor of a long-run relationship among variables associated with an import demand. Furthermore, the recently prescribed Stock-Watson Dynamic OLS (1993) procedure, is employed to derive long-run relative price and income elasticities. Results reveal that both relative price and income elasticity was -0.55 and 0.84 respectively which affect import demand significantly. Interestingly, the findings have implications explaining Jordanian import demand, in the long-run.

Suggested Citation

  • HUSSAIN, Majeed, 2007. "Estimating Long-Run Elasticities Of Jordanian Import Demand Function: 1980-2004 An Application Of Dynamic Ols," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 7(2), pages 171-178.
  • Handle: RePEc:eaa:aeinde:v:7:y:2007:i:2_15
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    References listed on IDEAS

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    1. John Y. Campbell & Pierre Perron, 1991. "Pitfalls and Opportunities: What Macroeconomists Should Know About Unit Roots," NBER Chapters,in: NBER Macroeconomics Annual 1991, Volume 6, pages 141-220 National Bureau of Economic Research, Inc.
    2. Thursby, Jerry G & Thursby, Marie C, 1984. "How Reliable Are Simple, Single Equation Specifications of Import Demand?," The Review of Economics and Statistics, MIT Press, vol. 66(1), pages 120-128, February.
    3. Granger, Clive W J, 1986. "Developments in the Study of Cointegrated Economic Variables," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 48(3), pages 213-228, August.
    4. DeJong, David N, et al, 1992. "Integration versus Trend Stationarity in Time Series," Econometrica, Econometric Society, vol. 60(2), pages 423-433, March.
    5. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
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    Cited by:

    1. Papusson Chaiwat & Nantarat Tangvitoontham, 2014. "Petroleum’s Price Transmission and Imported Demand for Crude Oil in Thailand," International Journal of Energy Economics and Policy, Econjournals, vol. 4(3), pages 476-483.

    More about this item

    Keywords

    Import; Elasticity; Long run; dynamic OLS. Jordan;

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation

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