IDEAS home Printed from https://ideas.repec.org/a/taf/intecj/v11y1997i4p73-873.html
   My bibliography  Save this article

Determinants of Import Demand in Thailand

Author

Listed:
  • Dipendra Sinha

Abstract

This study estimates an aggregate import demand function for Thailand. The earlier studies on import demand based on time series date did not deal with the issue of stationarity of the time series before estimation. Using the cointegration approach, we find aggregate import demand for Thailand to be price inelastic, cross price inelastic (with respect to domestic price) and income inelastic in the short run. In the long run, aggregate import demand is still price inelastic and cross price inelastic. However, aggregate import demand is highly income elastic in the long run. [C22, F14]

Suggested Citation

  • Dipendra Sinha, 1997. "Determinants of Import Demand in Thailand," International Economic Journal, Taylor & Francis Journals, vol. 11(4), pages 73-873.
  • Handle: RePEc:taf:intecj:v:11:y:1997:i:4:p:73-873
    DOI: 10.1080/10168739700000027
    as

    Download full text from publisher

    File URL: http://www.tandfonline.com/doi/abs/10.1080/10168739700000027
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1080/10168739700000027?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Khan, Mohsm S. & Ross, Knud Z., 1977. "The functional form of the aggregate import demand equation," Journal of International Economics, Elsevier, vol. 7(2), pages 149-160, May.
    2. Boylan, T. A. & Cuddy, M. P. & O'Muircheartaigh, I., 1980. "The functional form of the aggregate import demand equation : A comparison of three European economies," Journal of International Economics, Elsevier, vol. 10(4), pages 561-566, November.
    3. Hakkio, Craig S. & Rush, Mark, 1991. "Cointegration: how short is the long run?," Journal of International Money and Finance, Elsevier, vol. 10(4), pages 571-581, December.
    4. Sarmad, Khwaja, 1989. "The determinants of import demand in Pakistan," World Development, Elsevier, vol. 17(10), pages 1619-1625, October.
    5. Dickey, David A & Fuller, Wayne A, 1981. "Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root," Econometrica, Econometric Society, vol. 49(4), pages 1057-1072, June.
    6. Koshal, Rajindar K. & Doroodian, Khosrow & Chaluvadi, Ashok, 1993. "The behavior of demand and supply of Thai imports," Journal of Asian Economics, Elsevier, vol. 4(2), pages 363-375.
    7. 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.
    8. Murray, Tracy & Ginman, Peter J, 1976. "An Empirical Examination of the Traditional Aggregate Import Demand Model," The Review of Economics and Statistics, MIT Press, vol. 58(1), pages 75-80, February.
    9. Osterwald-Lenum, Michael, 1992. "A Note with Quantiles of the Asymptotic Distribution of the Maximum Likelihood Cointegration Rank Test Statistics," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 54(3), pages 461-472, August.
    10. Phillips, P.C.B., 1986. "Understanding spurious regressions in econometrics," Journal of Econometrics, Elsevier, vol. 33(3), pages 311-340, December.
    11. Asseery, A. & Peel, D. A., 1991. "Estimates of a traditional aggregate import demand model for five countries," Economics Letters, Elsevier, vol. 35(4), pages 435-439, April.
    12. Durbin, J, 1970. "Testing for Serial Correlation in Least-Squares Regression When Some of the Regressors are Lagged Dependent Variables," Econometrica, Econometric Society, vol. 38(3), pages 410-421, May.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Tsangyao Chang & Yuan-Hong Ho & Chiung-Ju Huang, 2005. "A Reexamination Of South Korea¡¯S Aggregate Import Demand Function: The Bounds Test Analysis," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 30(1), pages 119-128, June.
    2. Tang Tuck Cheong, 2003. "Aggregate Import Demand Function For Eighteen Oic Countries: A Cointegration Analysis," IIUM Journal of Economics and Management, IIUM Journal of Economis and Management, vol. 11(2), pages 167-195, December.
    3. Khurram Ashfaq Baluch & Syed Kalim Hyder Bukhari, 2012. "Price and Income Elasticity of Imports: The Case of Pakistan," Working Papers id:4899, eSocialSciences.
    4. Barns, Jeremy R., 2004. "Toward Understanding Philippine Trade in Services: A Demand Approach," Philippine Journal of Development PJD 2003 Vol. XXX No. 1-e, Philippine Institute for Development Studies.
    5. Augustine C. Arize & Thomas Osang, 2007. "Foreign Exchange Reserves and Import Demand: Evidence from Latin America," The World Economy, Wiley Blackwell, vol. 30(9), pages 1477-1489, September.
    6. Stefano Chiarlone, 2000. "Trade of quality differentiated goods and import elasticities," LIUC Papers in Economics 72, Cattaneo University (LIUC).
    7. Tuck Cheong Tang, 2002. "Aggregate Import Demand Behavior For Indonesia: Evidence From The Bounds Testing Approach," IIUM Journal of Economics and Management, IIUM Journal of Economis and Management, vol. 10(2), pages 179-199, December.
    8. Agbola, Frank W. & Damoense, Maylene Y., 2003. "An empirical examination of import demand for pulses in India," 2003 Conference (47th), February 12-14, 2003, Fremantle, Australia 57823, Australian Agricultural and Resource Economics Society.
    9. Tang, Tuck Cheong, 2003. "Japanese aggregate import demand function: reassessment from the 'bounds' testing approach," Japan and the World Economy, Elsevier, vol. 15(4), pages 419-436, December.
    10. Tang, Tuck Cheong, 2003. "An empirical analysis of China's aggregate import demand function," China Economic Review, Elsevier, vol. 14(2), pages 142-163.
    11. Sri Indah Nikensari & NFD Puspitasari & Amin Pujiati, 2020. "Demand and Strategy of Imports in Declining Foreign Exchange Reserves," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(3), pages 96-110.
    12. Rijal, Asim & Koshal, Rajindar K. & Jung, Chulho, 2000. "Determinants of Nepalese imports1," Journal of Asian Economics, Elsevier, vol. 11(3), pages 347-354, December.
    13. Philip Chimobi Omoke, 2012. "Aggregate Import Demand and Expenditure Components in Nigeria," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 1(1), pages 149-163, March.
    14. 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.
    15. Sadaf Majeed & Abdul Waheed, 2012. "Analyzing the Import Demand Function with Expenditure Components: Evidence from Pakistan," Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), vol. 19(2), pages 245-259, November.
    16. Kalyoncu, Huseyin, 2006. "An aggregate import demand function for Turkey: a cointegration analysis," MPRA Paper 4260, University Library of Munich, Germany.
    17. Musyoka, M.P., 2010. "Using Double-Log Imperfect Import Substitutes Model to Estimate Compensated Elasticities and Welfare Impacts," 2010 AAAE Third Conference/AEASA 48th Conference, September 19-23, 2010, Cape Town, South Africa 95774, African Association of Agricultural Economists (AAAE).
    18. Ioanna Konstantakopoulou, 2020. "Further Evidence on Import Demand Function and Income Inequality," Economies, MDPI, Open Access Journal, vol. 8(4), pages 1-12, October.
    19. Frimpong, Joseph Magnus & Oteng-Abayie, Eric Fosu, 2006. "Aggregate Import demand and Expenditure Components in Ghana:An Econometric Analysis," MPRA Paper 599, University Library of Munich, Germany, revised 15 Aug 0002.
    20. M. Adetunji Babatunde & Festus O. Egwaikhide, 2010. "Explaining Nigeria's import demand behaviour: a bound testing approach," International Journal of Development Issues, Emerald Group Publishing, vol. 9(2), pages 167-187, July.
    21. Camacho-Gutiérrez, Pablo, 2010. "Dynamic OLS estimation of the U.S. import demand for Mexican crude oil," MPRA Paper 30608, University Library of Munich, Germany.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Dipendra Sinha & Tapen Sinha, 2000. "An aggregate import demand function for greece," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 28(2), pages 196-209, June.
    2. Anisul Islam & M. Kabir Hassan, 2004. "An econometric estimation of the aggregate import demand function for Bangladesh: some further results," Applied Economics Letters, Taylor & Francis Journals, vol. 11(9), pages 575-580.
    3. Yap, Wei Yim & Lam, Jasmine S.L., 2006. "Competition dynamics between container ports in East Asia," Transportation Research Part A: Policy and Practice, Elsevier, vol. 40(1), pages 35-51, January.
    4. Levent KORAP, 2008. "Exchange Rate Determination Of Tl/Us$:A Co-Integration Approach," Istanbul University Econometrics and Statistics e-Journal, Department of Econometrics, Faculty of Economics, Istanbul University, vol. 7(1), pages 24-50, May.
    5. Kapuscinski, Cezary A. & Warr, Peter G., 1999. "Estimation of Armington elasticities: an application to the Philippines," Economic Modelling, Elsevier, vol. 16(2), pages 257-278, April.
    6. 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.
    7. Jacint Balaguer & Manuel Cantavella-Jorda, 2002. "Tourism as a long-run economic growth factor: the Spanish case," Applied Economics, Taylor & Francis Journals, vol. 34(7), pages 877-884.
    8. McCrae, Michael, et al, 2002. "Can Cointegration-Based Forecasting Outperform Univariate Models? An Application to Asian Exchange Rates," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 21(5), pages 355-380, August.
    9. Chor Foon Tang & Hooi Hooi Lean, 2011. "Revisit Feldstein-Horioka puzzle: evidence from Malaysia," Economics Bulletin, AccessEcon, vol. 31(3), pages 2237-2249.
    10. John Barkoulas & Christopher Baum, 1997. "A re-examination of the fragility of evidence from cointegration-based tests of foreign exchange market efficiency," Applied Financial Economics, Taylor & Francis Journals, vol. 7(6), pages 635-643.
    11. Victor Ukpolo, 1995. "Exchange rate market efficiency: further evidence from cointegration tests," Applied Economics Letters, Taylor & Francis Journals, vol. 2(6), pages 196-198.
    12. Baharumshah, Ahmad Zubaidi & Lau, Evan & Fountas, Stilianos, 2003. "On the sustainability of current account deficits: evidence from four ASEAN countries," Journal of Asian Economics, Elsevier, vol. 14(3), pages 465-487, June.
    13. Sawyer, W. Charles & Sprinkle, Richard L., 1997. "The Demand for Imports and Exports in Japan: A Survey," Journal of the Japanese and International Economies, Elsevier, vol. 11(2), pages 247-259, June.
    14. Adel A. Al-Sharkas & Marwan Al-Zoubi, 2011. "Stock Prices and Inflation: Evidence from Jordan, Saudi Arabia, Kuwait, and Morocco," Working Papers 653, Economic Research Forum, revised 12 Jan 2011.
    15. Kaminski, Jermain & Hopp, Christian & Tykvová, Tereza, 2019. "New technology assessment in entrepreneurial financing – Does crowdfunding predict venture capital investments?," Technological Forecasting and Social Change, Elsevier, vol. 139(C), pages 287-302.
    16. Darrat, Ali F. & Pennathur, Anita, 2002. "Are the Arab Maghreb countries really integratable?: Some evidence from the theory of cointegrated systems," Review of Financial Economics, Elsevier, vol. 11(2), pages 79-90.
    17. Yousefi, Ayoub & Wirjanto, Tony S., 2003. "Exchange rate of the US dollar and the J curve: the case of oil exporting countries," Energy Economics, Elsevier, vol. 25(6), pages 741-765, November.
    18. Tang, Tuck Cheong, 2003. "Japanese aggregate import demand function: reassessment from the 'bounds' testing approach," Japan and the World Economy, Elsevier, vol. 15(4), pages 419-436, December.
    19. W A Razzak, 2007. "A Perspective on Unit Root and Cointegration in Applied Macroeconomics," International Journal of Applied Econometrics and Quantitative Studies, Euro-American Association of Economic Development, vol. 4(1), pages 77-102.
    20. Tang, Chor Foon, 2010. "The determinants of health expenditure in Malaysia: A time series analysis," MPRA Paper 24356, University Library of Munich, Germany.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:intecj:v:11:y:1997:i:4:p:73-873. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: . General contact details of provider: http://www.tandfonline.com/RIEJ20 .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RIEJ20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.