Demand and Supply Factors in the Determination of NIE Exports: A Simultaneous Error-Correction Model for Hong Kong

Muscatelli, Vito Antonio; Srinivasan, T.G.; Vines, David

doi:10.2307/2234801

Cited by 76 publications

(48 citation statements)

References 19 publications

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“…Muscatelli, Srinivasan, and Vines (1992) show, however, that the normalization (or the choice of the dependent variable) does not matter once serial correlation and endogeneity are accounted for. Riedel's results, therefore, appear to arise from the non-stationarity of the variables, leading to a "spuriously" strong correlation between the country's export price and the world price and eliminating all other partial correlations.…”

Section: Patterns Of Persistencementioning

confidence: 94%

“…The income elasticity of demand for products from developing countries is much higher than that from developed countries. Should that be read to imply that developing countries export higher quality products or are able to rapidly expand product variety (Krugman 1989 andMuscatelli, Srinivasan, andVines 1992)? Within developing countries, income elasticity is much higher for the lagging Group II countries than for the dynamic Group I countries, which is contrary to what would be expected if income elasticity were a good measure either of product quality or of expanding product variety.…”

Section: Asymmetries In Income Elasticity: Insiders and Outsidersmentioning

confidence: 99%

“…For some industrial countries (notably Japan) and many developing countries, income elasticities are in the range of 2.5 to 5.0, i.e., a one percent increase in world income increases their exports by 2.5 to 5 percent (see Marquez and McNeilly 1988 for a review of selected studies). Recently, Muscatelli, Srinivasan, and Vines (1992) estimated Hong Kong's income elasticity of demand to be 4.2. Most authors are generally uncomfortable when reporting such high elasticities.…”

Section: Introductionmentioning

confidence: 99%

“…Most authors are generally uncomfortable when reporting such high elasticities. Muscatelli, Srinivasan and Vines (1992), for example, note that the high elasticities are due to: "a failure of conventional models of export flows (including our own) to identify important forces causing shifts in export demand: 'income effects' thus probably subsume a variety of other non-price factors." We will show that while their instinct on shifts in demand are right, their interpretation of high income elasticities is probably faulty.…”

Section: Introductionmentioning

confidence: 99%

See 3 more Smart Citations

Is there persistence in the growth of manufactured exports? Evidence from newly industrializing countries

Mody

1997

Journal of Development Economics

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Applying cointegration techniques in a panel data setting, we document persistent growth of manufactured exports from certain developing countries. To complement the investigation of persistence (measured by country Ôfixed effectsÕ), we analyze asymmetry in income elasticities:for all developing countries, the decline in exports with world income contraction is sharper than is the rise on the upswing; the decline is, however, especially pronounced for countries with low or negative persistence. The results are consistent with long-term buyer-supplier relationships that create "insiders" and "outsiders" in manufactured goods trading. Exports are also influenced the transactional infrastructure (proxied by telecommunications penetration).(JEL Classification: F13, F14) 1

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Section: Patterns Of Persistencementioning

confidence: 94%

Section: Asymmetries In Income Elasticity: Insiders and Outsidersmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Is there persistence in the growth of manufactured exports? Evidence from newly industrializing countries

Mody

1997

Journal of Development Economics

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“…V pří-padě Hongkongu je tedy podle nich zahraniční poptávka po exportu nekonečně pružná a o výši exportu rozhoduje funkce nabídky exportu. Muscatelli et al (1992) řeší v oblasti exportní funkce jako jedni z prvních problém nestacionarity časových řad. Testují stupeň integrace, provádějí kointegrační analýzu a empiricky verifikují exportní funkci Hongkongu s využitím modelu korekce chyby.…”

Section: Přehled Literatury a Dosavadních Výsledků Empirického Výzkumuunclassified

An Empirical Verification of Export Function Focused on the Impact of EUR/CZK Exchange Rate

Mandel¹,

Quang²

2017

Politicka ekonomie

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An Empirical Verification of Export Function Focused on the Impact of EUR/CZK Exchange RateThe traditional view of international economics is that exchange rate is a leading factor which can strongly affect a country's foreign trade. However, the production fragmentation widespread around the world due to the recent globalization may weaken the role of exchange rate on international trade. As the Czech economy is a very open one, a quantitative knowledge of the impact of exchange rate on export is a valuable information for all actors in the economy. In our contribution, we examine effect of the exchange rate of the Czech crown on domestic export in three macroeconomic models in both short and long run. The first one is a Keynesian model representing the demand for export in the form of marginal propensities. The second one is a VAR model in elasticities of the reduced form. The last one is a structural model resulting from the findings from the previous one. To estimate their parameters, we use quarterly data from 2000 Q1 to 2016 Q1. In all three cases we identify statistically significant impact of exchange rate on export in short-run models.

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Turkey's sectoral exports: A competitiveness approach

Bayar¹

2020

Int. J Fin Econ

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In this study, a sectoral export determination equation of Turkey is estimated using a very detailed panel data of 1,029 sectors in SITC Rev 3 four digit level for the period 1995-2015. In addition to standard export determination variables; the variables showing technology and sophistication level of the export products of Turkey were included among the independent variables; using both some traditional classification measures (Lall (2000), Oxford Development Studies, 2, 100-109) and a new measure developed by Hidalgo et al., (2009), "The Building Blocks of Economic Complexity." Proceedings of the National Academy of Sciences 106(26): 10570-10575. Moreover, also some indicators of competitiveness in world markets were included among independent variables. Method of estimation is augmented mean group, which takes into consideration cross sectional dependencies and parameter heterogeneities. Results of the regression suggest that product quality and design are becoming more important and price competition becomes less important in gaining competitive edge in world markets for Turkey.There is a transition of Turkey's exports towards medium technology products.

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Demand and Supply Factors in the Determination of NIE Exports: A Simultaneous Error-Correction Model for Hong Kong

Cited by 76 publications

References 19 publications

Is there persistence in the growth of manufactured exports? Evidence from newly industrializing countries

Is there persistence in the growth of manufactured exports? Evidence from newly industrializing countries

An Empirical Verification of Export Function Focused on the Impact of EUR/CZK Exchange Rate

Turkey's sectoral exports: A competitiveness approach

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