An empirical analysis of Fiji's import demand function

Narayan, S and Narayan, P 2005, 'An empirical analysis of Fiji's import demand function', Journal of economic studies, vol. 32, no. 2, pp. 158-168.

Document type: Journal Article
Collection: Journal Articles

Title An empirical analysis of Fiji's import demand function
Author(s) Narayan, S
Narayan, P
Year 2005
Journal name Journal of economic studies
Volume number 32
Issue number 2
Start page 158
End page 168
Total pages 11
Publisher Emerald Group Publishing Ltd.
Abstract Purpose - This paper aims to estimate a disaggregated import demand model for Fiji using relative prices, total consumption, investment expenditure and export expenditure variables for the period 1970 to 2000. Design/methodology/ approach - The recently developed bounds testing approach to cointegration to test for a long run relationship is used, while the autoregressive distributed lag model is used to estimate short run and long run elasticities. These methodologies are shown to perform well in small sample sizes, particularly given that the bounds F-test critical values for small sample sizes generated by Narayan in 2004 and 2005 are used. Findings - Amongst the key results it is found: a long run cointegration relationship among the variables when import demand is the dependent variable; and import demand to be inelastic and statistically significant at the 1 per cent level with respect to all the explanatory variables in both the long-run and the short-run. Originality/value - The disaggregated import demand model estimated here provides a complete picture of the determinants of Fiji's imports. This model can be used by Fijian policy makers to draw pertinent policies and forecast import demand for Fiji.
Subject Economic Development and Growth
DOI - identifier 10.1108/01443580510600931
ISSN 0144-3585
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