The Long-run and Short-run Impact of Exchange Rate Devaluation on Pakistan's Trade Performance
Zehra Aftab () and
Aurangzeb(Zeb) Aurangzeb ()
The Pakistan Development Review, 2002, vol. 41, issue 3, 277-286
In estimating trade elasticities for Pakistan, most previous researchers have employed non-stationary data and OLS or 2SLS techniques. In this paper we use Johansen’s cointegration methodology to re-investigate the long-run trade elasticities and existence of the Marshall-Lerner condition. Using quarterly data, the trade performance with Pakistan’s ten major trading partners is empirically tested. Moreover, we also investigate the short-run exchange rate dynamics by constructing an error-corrrection model to trace the j-curve.
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Persistent link: https://EconPapers.repec.org/RePEc:pid:journl:v:41:y:2002:i:3:p:277-286
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