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Shigeyuki Hamori and Yoichi Matsubayashi
''Empirical analysis of export demand behavior of LDCs: Panel cointegration approach ''
( 2009, Vol. 29 No.3 )
In this paper, we use panel data to empirically analyze the stability of the export functions of LDCs for the period 1980-2004 using the nonstationary panel time series analysis. We find that the use of panel data for the region of the LDC clearly supports a cointegrating relationship. Our empirical results also show that price elasticity ranges between -0.24 and -0.34 and income elasticity ranges between 1.36 and 1.79 for the panel of LDCs.
Keywords: LDCs, export demand function, panel unit root, panel cointegration
JEL: F4 - Macroeconomic Aspects of International Trade and Finance: General
O1 - Economic Development: General
Manuscript Received : Aug 09 2009 Manuscript Accepted : Aug 17 2009

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