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A partial equilibrium analysis of NAFTA's impact on U.S. bilateral trade

  • Cephas Naanwaab

    ()

    (School of Business and Economics, North Carolina A&T State University, 1601 East Market Street, Greensboro, NC 27411, USA)

  • Osei-Agyeman Yeboah

    (L.C. Cooper Jr. International Trade Center, North Carolina A&T State University, 1601 East Market Street, Greensboro, NC 27411, USA)

This paper examines the effects of the North American Free Trade Agreement on agricultural commodity trade using extensive data. The data cover agricultural exports and imports between the U.S. and NAFTA partners over the extended period of 1989-2010. The commodities covered in the analyses include; corn, soy bean, cotton, wheat, fresh vegetables, poultry, dairy products, and red meats. A partial equilibrium model, in which we derive each trading partner's excess demand and excess supply, is used to study the impact of NAFTA on trade, controlling for other trade-inducing variables such as exchange rates, tariffs, per capita incomes, and relative prices. Regression results show mixed effects of NAFTA on different commodities while graphical and counterfactual analyses indicate strictly positive effects.

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Article provided by Eastern Macedonia and Thrace Institute of Technology (EMATTECH), Kavala, Greece in its journal International Journal of Economic Sciences and Applied Research (IJESAR).

Volume (Year): 7 (2014)
Issue (Month): 1 (April)
Pages: 89-112

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Handle: RePEc:tei:journl:v:7:y:2014:i:1:p:89-112
Contact details of provider: Web page: http://ijbesar.teiemt.gr/

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  1. Greenwell Collins Matchaya & Pius Chilonda & Sibusiso Nhelengethwa, 2013. "International Trade and Income in Malawi: A Co-integration and Causality Approach," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Eastern Macedonia and Thrace Institute of Technology (EMATTECH), Kavala, Greece, vol. 6(2), pages 125-147, September.
  2. Hejazi, Walid & Safarian, A.E., 2005. "NAFTA effects and the level of development," Journal of Business Research, Elsevier, vol. 58(12), pages 1741-1749, December.
  3. Christine A. McDaniel & Laurie-Ann Agama, 2003. "The NAFTA Preference and US-Mexico Trade: Aggregate-Level Analysis," The World Economy, Wiley Blackwell, vol. 26(7), pages 939-955, 07.
  4. 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.
  5. David Hummels & Peter J. Klenow, 2002. "The Variety and Quality of a Nation's Trade," NBER Working Papers 8712, National Bureau of Economic Research, Inc.
  6. Granger, C. W. J. & Newbold, P., 1974. "Spurious regressions in econometrics," Journal of Econometrics, Elsevier, vol. 2(2), pages 111-120, July.
  7. M. Abimbola Oyinlola & Oluwatosin Adeniyi & Olusegun Omisakin, 2010. "Responsiveness of Trade Flows to Changes in Exchange rate and Relative prices: Evidence from Nigeria," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Eastern Macedonia and Thrace Institute of Technology (EMATTECH), Kavala, Greece, vol. 3(2), pages 123-141, December.
  8. 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 1057-72, June.
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