Demand and Supply Factors in the Determination of NIE Exports: A Simultaneous Error-Correction Model for Hong Kong: A Comment
V. A. Muscatelli, T. G. Srinivasan and D. Vines (1992) purported to refute J. Riedel's (1988) finding that Hong Kong is a small, price-taking country in world markets. This comment shows, however, that Muscatelli, Srinivasan, and Vines's results are due entirely to an unjustifiable restriction they imposed on the estimated export demand equation and not the result of using a superior estimation technique, as they asserted. Copyright 1994 by Royal Economic Society.
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Volume (Year): 104 (1994)
Issue (Month): 427 (November)
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