Import demand under a foreign exchange constraint
This paper develops a forward-looking model for import demand under a foreign exchange constraint, in which import growth is an increasing function of contemporaneous and expected future export growth. ; Unlike existing models which stress the role of foreign exchange reserves and contemporaneous export earnings for countries that have limited access to foreign borrowing, this one stresses the importance of the expected time path of future export earnings. The implications of the model are tested and confirmed with data from three East Asian developing countries for which relevant time series are available at quarterly intervals.
|Date of creation:||1998|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://www.newyorkfed.org/
More information through EDIRC
|Order Information:|| Email: |
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Mohsin S. Khan, 1974. "Import and Export Demand in Developing Countries (Demande Ã l'importation et l'exportation dans les pays en dÃ©veloppement) (La demanda de importaciÃ³n y de exportaciÃ³n en los paÃses en desarrollo)," IMF Staff Papers, Palgrave Macmillan, vol. 21(3), pages 678-693, November.
- Reinhart, Carmen, 1995.
"Devaluation, Relative Prices, and International Trade: Evidence from Developing Countries,"
6974, University Library of Munich, Germany.
- 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.
- Carmen Reinhart, 1994. "Devaluation, Relative Prices, and International Trade; Evidence From Developing Countries," IMF Working Papers 94/140, International Monetary Fund.
- Adda, Jérôme & Eaton, Jonathan, 1998.
"Borrowing with unobserved liquidity constraints structural estimation with an application to sovereign debt,"
CEPREMAP Working Papers (Couverture Orange)
- Jerome Adda & Jonathan Eaton, 1998. "Borrowing iwth Unobserved Liquidity Constraints: Structural Estimation with an Application to Sovereign Debt," Boston University - Institute for Economic Development 84, Boston University, Institute for Economic Development.
- Leonardo Bartolini & Allan Drazen, 1996.
"When Liberal Policies Reflect External Shocks, What Do We Learn?,"
NBER Working Papers
5727, National Bureau of Economic Research, Inc.
- Bartolini, Leonardo & Drazen, Allan, 1997. "When liberal policies reflect external shocks, what do we learn?," Journal of International Economics, Elsevier, vol. 42(3-4), pages 249-273, May.
- Leonardo Bartolini & Allan Drazen, 1996. "When liberal policies reflect external shocks, what do we learn?," Staff Reports 18, Federal Reserve Bank of New York.
- Adnan Mazarei, 1995. "Imports Under a Foreign Exchange Constraint; The Case of the Islamic Republic of Iran," IMF Working Papers 95/97, International Monetary Fund.
- Faini, Riccardo & Pritchett, Lant & Clavijo, Fernando, 1988. "Import demand in developing countries," Policy Research Working Paper Series 122, The World Bank.
- Bahmani-Oskooee, Mohsen, 1986. "Determinants of international trade flows : The Case of Developing Countries," Journal of Development Economics, Elsevier, vol. 20(1), pages 107-123.
- Carroll, Christopher D & Fuhrer, Jeffrey C & Wilcox, David W, 1994.
"Does Consumer Sentiment Forecast Household Spending? If So, Why?,"
American Economic Review,
American Economic Association, vol. 84(5), pages 1397-1408, December.
- Christopher D. Carroll & Jeffery C. Fuhrer & David W. Wilcox, 1994. "RATS code for Does Consumer Sentiment Forecast Household Spending? If So, Why?," QM&RBC Codes 49, Quantitative Macroeconomics & Real Business Cycles.
- Khan, Mohsin S & Knight, Malcolm D, 1988. "Import Compression and Export Performance in Developing Countries," The Review of Economics and Statistics, MIT Press, vol. 70(2), pages 315-21, May.
- Wojciech W. Charemza & Derek F. Deadman, 1992. "New Directions In Econometric Practice," Books, Edward Elgar, number 84.
- Engle, Robert F & Granger, Clive W J, 1987. "Co-integration and Error Correction: Representation, Estimation, and Testing," Econometrica, Econometric Society, vol. 55(2), pages 251-76, March.
When requesting a correction, please mention this item's handle: RePEc:fip:fednrp:9810. 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: (Amy Farber)
If references are entirely missing, you can add them using this form.