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A macroeconometric model for trade policy evaluation: evidence from Pakistan

Author

Listed:
  • Syed Tehseen Jawaid
  • Abdul Waheed

Abstract

Purpose - The purpose of the study is to develop a macroeconometric model for evaluation of trade policies and forecasting of trade performance of Pakistan with different regions or group of countries. Design/methodology/approach - These regions or group of countries are Organization of Islamic Cooperation, Organization of Economic Cooperation and Development, Association of Southeast Asian Nations, South Asian Association for Regional Cooperation and the rest of the world. A macroeconometric model containing 15 behavioral equations and eight identities. Findings - Cointegration results suggest that there exist long-run relationships among variables of all behavioral equations. Additionally, results of different policy shocks based on unit value of export (export price), unit value of import (import price), exchange rate, foreign direct investment, interest rate and foreign exchange reserve suggest that the model is useful for economic planning to sustain growth performance of Pakistan. Originality/value - In this study, the authors develop for the first time ever a macroeconometric model for the evaluation and forecasting of regional trade policy and performance for Pakistan.

Suggested Citation

  • Syed Tehseen Jawaid & Abdul Waheed, 2018. "A macroeconometric model for trade policy evaluation: evidence from Pakistan," Journal of Chinese Economic and Foreign Trade Studies, Emerald Group Publishing Limited, vol. 11(1), pages 49-103, January.
    • Handle: RePEc:eme:jcefts:jcefts-08-2017-0023
    DOI: 10.1108/JCEFTS-08-2017-0023
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    More about this item

    Keywords

    Pakistan; Forecasting; Model; Trade; D58; F13; F17;
    All these keywords.

    JEL classification:

    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F17 - International Economics - - Trade - - - Trade Forecasting and Simulation

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