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DETERMINANTS OF DEMAND FOR FIJI'S EXPORTS: AN EMPIRICAL INVESTIGATION

DETERMINANTS OF DEMAND FOR FIJI'S EXPORTS: AN EMPIRICAL INVESTIGATION Fiji is no exceptin to the rule that exports are an important source of growth and development. In this light, it is important to know the determinants of exports. However, there is no empirical study on Fiji's export demand. This paper uses the modern econometric techniques—in particular, the autoregressive distributed lag approach to cointegration—to investigate whether the standard export demand variables, viz., trading partner income, export price, and competitor price, have a long‐run cointegration relationship with Fiji's real exports for the period 1970 to 1999. In addition, the long‐run results are also estimated by using the dynamic ordinary least squares and the fully modified ordinary least squares. The empirical results indicate the existence of a cointegration relationship among the variables. The long‐run foreign income, own‐price, and cross‐price elasticities are found to be 0.7 to 0.8, −1.3 to −1.5, and 2.1 to 2.2, respectively. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Developing Economies Wiley

DETERMINANTS OF DEMAND FOR FIJI'S EXPORTS: AN EMPIRICAL INVESTIGATION

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Publisher
Wiley
Copyright
Copyright © 2004 Wiley Subscription Services, Inc., A Wiley Company
ISSN
0012-1533
eISSN
1746-1049
DOI
10.1111/j.1746-1049.2004.tb01017.x
Publisher site
See Article on Publisher Site

Abstract

Fiji is no exceptin to the rule that exports are an important source of growth and development. In this light, it is important to know the determinants of exports. However, there is no empirical study on Fiji's export demand. This paper uses the modern econometric techniques—in particular, the autoregressive distributed lag approach to cointegration—to investigate whether the standard export demand variables, viz., trading partner income, export price, and competitor price, have a long‐run cointegration relationship with Fiji's real exports for the period 1970 to 1999. In addition, the long‐run results are also estimated by using the dynamic ordinary least squares and the fully modified ordinary least squares. The empirical results indicate the existence of a cointegration relationship among the variables. The long‐run foreign income, own‐price, and cross‐price elasticities are found to be 0.7 to 0.8, −1.3 to −1.5, and 2.1 to 2.2, respectively.

Journal

The Developing EconomiesWiley

Published: Mar 1, 2004

References

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