Modelling import demand behaviour in Ghana: a re-examination
This paper empirically models Ghana's real import demand with respect to disaggregated expenditure components of final demand, relative price and international reserves. Using cointegration and error-correction models, the study finds significant differences between long-run and short-run import demand elasticities. Private consumption expenditure has the biggest impact on the demand for imports. Macroeconomic policies designed to influence imports should consider the relative impact and behaviour of each disaggregated import demand determinant.
Volume (Year): 33 (2013)
Issue (Month): 1 ()
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