Paper Information

Journal:   TAHGHIGHAT-E-EGHTESADI   Fall 2004 , Volume - , Number 66; Page(s) 91 To 112.
 
Paper: 

THE AGGREGATE IMPORT DEMAND FUNCTION OF IRAN: A NEW REASSESSMENT BY BOUNDS TESTING APPROACH

 
 
Author(s):  NASROLAHEE M.
 
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Abstract: 
Most of the available empirical studies about specification of import demand function are concerned with two kinds of specification: traditional and foreign exchange constraint specification. In recent years, with the improvement in new econometrics approaches and considerable progress of co-integration tests for investigating the long-run relationship among understudy variables, most of the empirical studies about import demand function of developing countries have put aside the foreign exchange constraint specification, explored the traditional specificationof import demand function and accepted it.
This study intends to reassess the existence of a long-run relationship among the constituent variables of the traditional of Irans import demand function by applying. a new approach called" Bounds Testing Approach" (Pesaran; shin &smith 200I). The results of this study indicate that the value of demanded import, relative import prices and real domestic income of Iran throughout 1959-2000 are cointegrated. Also the long-run estimated income and price elasticities whit ARDL approach are 1. 595 and -1. 44.respectively
 
Keyword(s): IMPORT DEMAND FUNCTION, RELATIVE IMPORT PRICES, REAL DOMESTIC INCOME, CO-INTEGRATION, BOUNDS TESTING APPROACH.
 
References: 
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