کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
980425 | 1480463 | 2010 | 10 صفحه PDF | دانلود رایگان |
Some African economies have experienced increases in the level of their foreign exchange reserves as well as increases in their import volume. Theory suggests that as the level of exchange reserves increases, it may affect the demand for imports since more funds will be available for imports. This paper examines import demand behavior in three African economies, namely Kenya, Nigeria and South Africa. An empirical analysis of import demand behavior is presented, based on the dynamic error-correction model, which allows an explicit parameterized division of effects into long-run influences, short-term adjustment and error-correction term. It uses econometric techniques organized around Johansen and Harris–Inder cointegration analyses; fully modified OLS, dynamic OLS and non-linear OLS to estimate long-run import demand functions.
Journal: The Quarterly Review of Economics and Finance - Volume 50, Issue 3, August 2010, Pages 254–263