Cointegration Approach to Estimating Bilateral Trade Elasticities Between U.S. And Her Trading Partners

Bahmani‐Oskooee, Mohsen; Brooks, Taggert J.

doi:10.1080/10168739900080032

Cited by 21 publications

(14 citation statements)

References 8 publications

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“…The longrun finding for U.S.-Canada trade was confirmed by Bahmani-Oskooee and Brooks (1999a) who estimated the Marshall-Lerner condition between the United States and each of her six largest trading partners, including Canada. The condition was satisfied in the cases of Japan, the U.K., France and Italy, but not for Canada and Germany, implying that real depreciation of the Canadian dollar against the U.S. dollar could not improve the trade balance between the two countries in the longrun.…”

mentioning

confidence: 56%

The J-Curve: Evidence from commodity trade between Canada and the U.S.

Bahmani‐Oskooee

Bolhasani

2008

J Econ Finan

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confidence: 56%

The J-Curve: Evidence from commodity trade between Canada and the U.S.

Bahmani‐Oskooee

Bolhasani

2008

J Econ Finan

Self Cite

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“…Because of this Maddala and Kim (1998) argue that DF, ADF (augmented Dickey-Fuller) and PP (Phillips and Perron) tests should be discarded. We, therefore, use the KPSS [Kwiatkowski, Phillips, Schmidt, and Shin (1992)] test which is considered relatively more powerful [Bahmani-Oskooee (1999)]. The KPSS Lagrange Multiplier tests the null of stationarity (H 0: 1) against the alternative of a unit root (H 1 : =1).…”

Section: Unit Roots Johansen Cointegration Test and Error-correctiomentioning

confidence: 99%

The Impact of Globalisation on Economic Growth of Pakistan

Afzal¹

2022

pdr

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Globalisation has diverse definitions and concepts.1 Globalisation has many facets and has a variety of social, political and economic implications. This term introduced in early 1980, which never precisely defined, is a frequently used word in the political economy. It simply means growing integration of the national economies, openness to trade, financial flows, foreign direct investment and the increasing interaction of people in all facets of their lives. Globalisation also implies internationalisation of production, distribution and marketing of goods and services. International integration implies the adoption of common policies by the individual countries. Between 1870 and 1914, the world was integrated into a single word economy dominated by one power: Great Britain. The government functions were limited and faced many constraints like gold standard and lack of freedom to pursue easy monetary policy. Later governments were burdened by performing many functions like achievement of macroeconomic goals—full employment, economic growth and price stability. Freedom of using macroeconomic policies resulted in greater integration of national economies but at the same time they led to international disintegration and interdependence. Streeten (1998) argues that today global market forces can lead to conflict between states, contributing to international disintegration and weakened governance. Before 1914, the world was more integrated than it is today but it did not prevent the First World War.

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“…Felrningham, 1988). These studies employ the effective exchange rate, which can be misleading when a country’s currency appreciates against one currency and simultaneously depreciates against another (Bahmani-Oskooee and Brooks, 1999). The weighted averaging will, therefore, smooth out the effective exchange rate fluctuations, yielding an insignificant link between the effective exchange rate and the trade balance.…”

Section: Synthesizing the Published Evidencementioning

confidence: 99%

Assessing exchange rate sensitivity of bilateral agricultural trade for the Visegrad countries

Šimáková

2017

Outlook Agric

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This article examines the short- and long-term effects of exchange rate changes on bilateral agricultural foreign trade for the Visegrad countries. Data used in this study covered the period from 1999: Q1 to 2014: Q3 and were based on the Standard International Trade Classification. To distinguish the long-term effects from the short-term ones, the J-curve theory was applied. A Johansen cointegration test and a vector error correction model were also used. The analyses showed that food, live animals, beverages and tobacco commodities were significantly connected with exchange rate movements in the long term. The effects of currency depreciation were ambiguous. However, an improvement in particular trade balances was observed in most cases following currency depreciation. The J-curve pattern was confirmed only for the Czech Republic in the trade of food and live animals with Italy and Poland and for Hungary in the trade of beverages and tobacco with Italy.

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Cointegration Approach to Estimating Bilateral Trade Elasticities Between U.S. And Her Trading Partners

Cited by 21 publications

References 8 publications

The J-Curve: Evidence from commodity trade between Canada and the U.S.

The J-Curve: Evidence from commodity trade between Canada and the U.S.

The Impact of Globalisation on Economic Growth of Pakistan

Assessing exchange rate sensitivity of bilateral agricultural trade for the Visegrad countries

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