Aggregate imports and expenditure components in the Philippines: an econometric analysis

Title: Aggregate imports and expenditure components in the Philippines: an econometric analysis
Creator: Agbola, Frank W.
Relation: Indian Economic Review Vol. 44, Issue 2, p. 155-170
Relation: http://www.ierdse.org
Publisher: Delhi School of Economics, University of Delhi
Resource Type: journal article
Date: 2009
Description: This paper estimates aggregate short-run and long-run import demand functions for the Philippines using data for the period 1960-2006. Results indicate that import demand and its determinants are cointegrated in the long run. The import demand with respect to expenditure components is inelastic in both the short run and long run. The error correction mechanism indicates that equilibrium is attained in nearly two years after a shock to expenditure components of the import demand function. Short-run determinants of import demand are exports and domestic investment, while the long-run determinants of import demand are exports, domestic investment and government expenditure.
Subject: unit root; cointegration; import demand; Philippines
Identifier: uon:7979
Identifier: http://hdl.handle.net/1959.13/916386
Identifier: ISSN:0019-4670
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