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The Consequences of Trade Liberalisation on the Australian Passenger Motor Vehicle Industry

This paper is an appraisal of the impact of Australian trade liberalization measures on imports, exports, productivity, and internal demand of the passenger motor vehicle industry. There is clear evidence that this liberalization has increased the volume of trade, imports, exports, and productivity, but reduced the locally produced cars for internal consumption. Various models are constructed and applied. Thus, this paper is an application of the bounds testing procedure based on the ARDL approach to cointegration and the comparison of the latter with the OLS and Johansen’s cointegration methods in the contexts of small samples.

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File URL: http://www.uow.edu.au/content/groups/public/@web/@commerce/@econ/documents/doc/uow012214.pdf
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Paper provided by School of Economics, University of Wollongong, NSW, Australia in its series Economics Working Papers with number wp06-01.

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Length: 45 pages
Date of creation: 2006
Date of revision:
Handle: RePEc:uow:depec1:wp06-01
Contact details of provider: Postal: School of Economics, University of Wollongong, Northfields Avenue, Wollongong NSW 2522 Australia
Phone: +612 4221-3659
Fax: +612 4221-3725
Web page: http://business.uow.edu.au/econ/index.html

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  1. Koli Fatai & Les Oxley & Frank G. Scrimgeour, 2003. "Modeling and Forecasting the Demand for Electricity in New Zealand: A Comparison of Alternative Approaches," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 75-102.
  2. Fleischmann, Matthew P & Prentice, David, 2001. "Strategy, Scale or Policy? Exit in the Australian Car Industry," The Economic Record, The Economic Society of Australia, vol. 77(239), pages 351-60, December.
  3. Boyd, Derick & Caporale, Gugielmo Maria & Smith, Ron, 2001. "Real Exchange Rate Effects on the Balance of Trade: Cointegration and the Marshall-Lerner Condition," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 6(3), pages 187-200, July.
  4. Richards, Anthony J., 1995. "Comovements in national stock market returns: Evidence of predictability, but not cointegration," Journal of Monetary Economics, Elsevier, vol. 36(3), pages 631-654, December.
  5. Peter B. Dixon & Maureen T. Rimmer, 2004. "Measuring Contributions To The Australian Economy: The Benefits Of A Fast-Growing Motor Vehicle And Parts Industry," Economic Papers, The Economic Society of Australia, vol. 23(1), pages 73-87, 03.
  6. Zivot, Eric & Andrews, Donald W K, 1992. "Further Evidence on the Great Crash, the Oil-Price Shock, and the Unit-Root Hypothesis," Journal of Business & Economic Statistics, American Statistical Association, vol. 10(3), pages 251-70, July.
  7. Paresh Kumar Narayan & Seema Narayan, 2004. "Is There A Long-Run Relationship Between Exports And Imports? Evidence From Two Pacific Island Countries," Economic Papers, The Economic Society of Australia, vol. 23(2), pages 152-164, 06.
  8. Daina McDonald & Peter B. Dixon, 1988. "The Australian Economy: 1987-88 and 1988-89," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 21(2), pages 3-26.
  9. Perron, P, 1988. "The Great Crash, The Oil Price Shock And The Unit Root Hypothesis," Papers 338, Princeton, Department of Economics - Econometric Research Program.
  10. Greenslade, Jennifer V. & Hall, Stephen G. & Henry, S. G. Brian, 2002. "On the identification of cointegrated systems in small samples: a modelling strategy with an application to UK wages and prices," Journal of Economic Dynamics and Control, Elsevier, vol. 26(9-10), pages 1517-1537, August.
  11. M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326.
  12. Jayanthakumaran, Kankesu, 2002. "The Impact of Trade Liberalisation on Manufacturing Sector Performance in Developing Countries: A Survey of the Literature," Economics Working Papers wp02-07, School of Economics, University of Wollongong, NSW, Australia.
  13. Caporale, Guglielmo Maria & Chui, Michael K F, 1999. "Estimating Income and Price Elasticities of Trade in a Cointegration Framework," Review of International Economics, Wiley Blackwell, vol. 7(2), pages 254-64, May.
  14. Mohsen Bahmani-Oskooee & Orhan Kara, 2003. "Relative Responsiveness of Trade Flows to a Change in Prices and Exchange Rate," International Review of Applied Economics, Taylor & Francis Journals, vol. 17(3), pages 293-308.
  15. Chand, Satish, 1999. "Trade Liberalization and Productivity Growth: Time-Series Evidence from Australian Manufacturing," The Economic Record, The Economic Society of Australia, vol. 75(228), pages 28-36, March.
  16. Glauco De vita & Andrew Abbott, 2004. "The Impact of Exchange Rate Volatility on UK Exports to EU Countries," Scottish Journal of Political Economy, Scottish Economic Society, vol. 51(1), pages 62-81, 02.
  17. Renuka Mahadevan, 2002. "Trade liberalization and productivity growth in Australian manufacturing industries," Atlantic Economic Journal, International Atlantic Economic Society, vol. 30(2), pages 170-185, June.
  18. Dale B Truett & Lila J Truett, 1997. "Australian Government Policies and the Balance of Trade Performance of the Transportation Equipment Industry: A Comparative Perspective," Comparative Economic Studies, Palgrave Macmillan, vol. 39(1), pages 15-42, April.
  19. Ross Garnaut, 1997. "Australian Cars in a Global Economy," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 30(4), pages 359-373.
  20. James Payne, 2003. "Post stabilization estimates of money demand in Croatia: error correction model using the bounds testing approach," Applied Economics, Taylor & Francis Journals, vol. 35(16), pages 1723-1727.
  21. Subrata Ghatak & Jalal Siddiki, 2001. "The use of the ARDL approach in estimating virtual exchange rates in India," Journal of Applied Statistics, Taylor & Francis Journals, vol. 28(5), pages 573-583.
  22. Niklas Ahlgren & Jan Antell, 2002. "Testing for cointegration between international stock prices," Applied Financial Economics, Taylor & Francis Journals, vol. 12(12), pages 851-861.
  23. Harry Bloch & James McDonald, 2001. "Import Competition and Labor Productivity," Journal of Industry, Competition and Trade, Springer, vol. 1(3), pages 301-319, September.
  24. Amelia Santos-Paulino & A. P. Thirlwall, 2004. "The impact of trade liberalisation on exports, imports and the balance of payments of developing countries," Economic Journal, Royal Economic Society, vol. 114(493), pages F50-F72, 02.
  25. Tcha, MoonJoong & Kuriyama, Takashi, 2003. "Protection policy under economies of scale -- the welfare effects of tariffs on the Australian automotive industry," Journal of Policy Modeling, Elsevier, vol. 25(6-7), pages 655-672, September.
  26. Fachin, Stefano, 2000. " Bootstrap and Asymptotic Tests of Long-Run Relationships in Cointegrated Systems," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 62(4), pages 543-51, September.
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