Disaggregated Imports Demand Functions: An Empirical Analysis for Pakistan
Journal: Journal of Quantitative Methods (Vol.2, No. 2)Publication Date: 2018-08-31
Authors : Malik Muhammad Umar Riaz;
Page : 7-26
Keywords : Imports; Commodities; Elasticities; GMM;
Abstract
Given the importance of international trade in the economic performance of a country, voluminous research work has been carried out on the determinants of aggregate exports and imports. The present study departs from the conventional approach by analyzing demand of imports in a commodity-wise disaggregated fashion. As different products respond differently to trade policies and exchange rates, therefore policy makers can focus on the particular products when designing their policies for imports. Specifically, this study attempts to analyze the impact of prices, income level, foreign exchange reserves, exchange rate and trade liberalization program on 26 commodities defined by SITC 3-digit classification in which Pakistan has been most often a net importer. Using data for the period 1982 to 2010, GMM estimates reveal inelastic response of the major commodities to their own prices and are growth driven.
Other Latest Articles
- Role of Quantitative Methods in Quantifying
- ENVIRONMENTAL DECISION-MAKING THROUGH ADJUDICATORY APPEALS IN THE UNITED STATES
- Modified Shewhart Control Chart Based on CEV for Gamma Distributed Lifetimes in the Presence of Type-I Censored Data
- Drivers of Green Supply Chain Management Practices and their Impact on Firm Performance: A Developing Country Perspective
- Quality Academic Process: A Panacea for Student Development in University Education
Last modified: 2019-05-30 15:11:57