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Price and Income Elasticity of Imports: The Case of Pakistan

Khurram Ashfaq Baluch () and Syed Bukhari ()
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Khurram Ashfaq Baluch: State Bank of Pakistan

No 48, SBP Working Paper Series from State Bank of Pakistan, Research Department

Abstract: The paper estimates the elasticity of Imports with respect to relative prices and income for Pakistan from 1971 to 2009. What distinguishes this paper from the earlier studies is the use of robust estimation technique of Autoregressive Distributed Lag (ARDL) model utilizing the bounds test procedure. The results point to cointegration among the variables. The estimated long run elasticity of Imports with respect to relative prices and income are -0.53 and 1.22 respectively. Length: 20 pages

Keywords: Cointegration; foreign trade; import price (search for similar items in EconPapers)
JEL-codes: C22 F10 F14 (search for similar items in EconPapers)
Date: 2012-03
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