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Market Power and Unites States Sectoral Textile Imports

  • S Shahnawaz
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    This paper estimates US textiles import elasticities with 20 of its largest textiles exporters by utilizing cointegration methodology. The soon-to-be-implemented abolition of quotas on textiles makes the study of these import elasticities especially relevant to many developing countries particularly to those that have a significant textiles component in their exports. The study uses disaggregated data (4 digit ISIC) to separately consider seven textiles sub-sectors and calculates income and price elasticities for each one. While China appears to be in a position of significant market power in a majority of the textiles sub-sectors examined in this paper, the estimates also identify the particular sub-sectors in which the smaller textile exporters are in a position of some strength. Specifically, the carpets and rugs, and the apparels sectors are identified as those where smaller exporters have relatively more market power.

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    Article provided by Economic Issues in its journal Economic Issues.

    Volume (Year): 9 (2004)
    Issue (Month): 2 (September)
    Pages: 69-84

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    Handle: RePEc:eis:articl:204shahnawaz
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    4. Bahmani-Oskooee Mohsen & Taggert Brooks, 1999. "Cointegration Approach to Estimating Bilateral Trade Elasticities Between U.S. and Her Trading Partners," International Economic Journal, Taylor & Francis Journals, vol. 13(4), pages 119-128.
    5. Mohsin S. Khan, 1974. "Import and Export Demand in Developing Countries (Demande à l'importation et l'exportation dans les pays en développement) (La demanda de importación y de exportación en los países en desarrollo)," IMF Staff Papers, Palgrave Macmillan, vol. 21(3), pages 678-693, November.
    6. Robert G. King & Charles I. Plosser & James H. Stock & Mark W. Watson, 1991. "Stochastic trends and economic fluctuations," Working Paper Series, Macroeconomic Issues 91-4, Federal Reserve Bank of Chicago.
    7. Choi, In, 1994. "Residual-Based Tests for the Null of Stationarity with Applications to U.S. Macroeconomic Time Series," Econometric Theory, Cambridge University Press, vol. 10(3-4), pages 720-746, August.
    8. Johansen, Soren, 1991. "Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoregressive Models," Econometrica, Econometric Society, vol. 59(6), pages 1551-80, November.
    9. Sims, Christopher A, 1980. "Macroeconomics and Reality," Econometrica, Econometric Society, vol. 48(1), pages 1-48, January.
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    11. Houthakker, Hendrik S & Magee, Stephen P, 1969. "Income and Price Elasticities in World Trade," The Review of Economics and Statistics, MIT Press, vol. 51(2), pages 111-25, May.
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