Estimating Export Equations for Developing Countries
: The paper uses annual time series data to estimate the price and income elasticities of export demand for three developing countries Fiji, Papua New Guinea (PNG) and Bangladesh. The LSE-Hendry s general-to-specific approach (known as GETS) is employed by using correct specifications of relative price to find the relevant export elasticities. Income elasticities of export demand are found to be unity for all the three countries. The price elasticity estimates, in contrast, have correct signs, and give plausible magnitudes. Based on the results, exports in developing countries can be seen as an engine for growth, and thus, export promotion policies are necessary to improve trade balance and to achieve greater export-based growth.
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Volume (Year): VIII (2009)
Issue (Month): 2 (March)
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- Narayan, Paresh Kumar & Narayan, Seema, 2005. "Estimating income and price elasticities of imports for Fiji in a cointegration framework," Economic Modelling, Elsevier, vol. 22(3), pages 423-438, May.
- Ostry, Jonathan D. & Rose, Andrew K., 1992. "An empirical evaluation of the macroeconomic effects of tarrifs," Journal of International Money and Finance, Elsevier, vol. 11(1), pages 63-79, February.
- B Bhaskara Rao & Rup Singh, 2005.
"Estimating Export Equations,"
- Rose, Andrew K., 1991. "The role of exchange rates in a popular model of international trade : Does the 'Marshall-Lerner' condition hold?," Journal of International Economics, Elsevier, vol. 30(3-4), pages 301-316, May.
- Carmen Reinhart, 1994.
"Devaluation, Relative Prices, and International Trade; Evidence From Developing Countries,"
IMF Working Papers
94/140, International Monetary Fund.
- Carmen M. Reinhart, 1995. "Devaluation, Relative Prices, and International Trade: Evidence from Developing Countries," IMF Staff Papers, Palgrave Macmillan, vol. 42(2), pages 290-312, June.
- Reinhart, Carmen, 1995. "Devaluation, Relative Prices, and International Trade: Evidence from Developing Countries," MPRA Paper 6974, University Library of Munich, Germany.
- Rose, Andrew K., 1990. "Exchange rates and the trade balance : Some evidence from developing countries," Economics Letters, Elsevier, vol. 34(3), pages 271-275, November.
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