Empirical analysis of import demand behavior of least developed countries

Empirical analysis of import demand behavior of least developed countries

This paper examines the long-run stability of import demand function in Least Developed Countries (LDC) using recently developed panel cointegration techniques. We test for cointegration using two data sets: a) annual data for 15 countries between 1965 and 2004 and b) annual data for 22 countries be...

Ausführliche Beschreibung

Gespeichert in:
Bibliographische Detailangaben
Veröffentlicht in:Economics bulletin 2009, Vol.29 (2), p.1443-1458
Hauptverfasser: Hamori, Shigeyuki, Matsubayashi, Yoichi
Format: Artikel
Sprache:eng
Schlagworte:
import demand
LDC
panel cointegration
panel unit root
Online-Zugang:Volltext
Tags: Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
Beschreibung
Zusammenfassung:This paper examines the long-run stability of import demand function in Least Developed Countries (LDC) using recently developed panel cointegration techniques. We test for cointegration using two data sets: a) annual data for 15 countries between 1965 and 2004 and b) annual data for 22 countries between 1984 and 2004. We find that cointegration is present and that, indeed, there is a stable import demand function in these economies. The income elasticity ranges from 1.26 to 1.69 and price elasticity ranges from -0.72 to -0.75.
ISSN:1545-2921
1545-2921