Japanese aggregate import demand function: Reassessment from the 'bounds' testing approach

Japan and the World Economy

Volumn 15, Issue 4, 2003, Pages 419-436

  Tang, Tuck Cheong ^a  

^a MONASH UNIVERSITY MALAYSIA   (Malaysia)

Author keywords

Aggregate import demand; Bounds test; Cointegration; Japan; Unrestricted error correction model

Indexed keywords

EID: 0141682180     PISSN: 09221425     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0922-1425(02)00051-8     Document Type: Article

References (44)

1. Abbott A. Darnell A.C. Evans L. The influence of exchange rate variability on UK exports Applied Economics Letters 8 2001 47-49
2. Agrawal P. The relation between savings and growth: cointegration and causality evidence from Asia Applied Economics 33 2001 499-513
3. Banerjee A. Dolado J.J. Hendry D.F. Smith G.W. Exploring equilibrium relationships in econometrics through static models: some Monte Carlo evidences Oxford Bulletin of Economics and Statistics 48 1988 253-277
4. Banerjee A. Dolado J.J. Mestre R. Error-correction mechanism tests for cointegration in a single-equation framework Journal of Time Series Analysis 193 1998 267-283
5. Bahmani-Oskooee M. Cointegration approach to estimate the long-run trade elasticities in LDCs International Economic Journal 123 1998 89-96
6. Bahmani-Oskooee M. Niroomand F. Long-run price elasticities and the Marshall-Lerner condition revisited Economics Letters 61 1998 101-109
7. Bardsen G. Estimation of long-run coefficients in error-correction models Oxford Bulletin of Economics and Statistics 51 1989 345-350
8. Cheung Y.-W. Lai K.S. Finite-sample sizes of Johansen's likelihood ratio tests for cointegration Oxford Bulletin of Economics and Statistics 553 1993 313-328
9. Coe P.J. Serletis A. Bounds tests of the theory of purchasing power parity Journal of Banking and Finance 26 2002 179-199
10. Davidson, R., MacKinnon, J.G., 1993. Estimation and inference in econometrics. Oxford University Press, Oxford.
11. Dickey D. Fuller W.A. Distribution of the estimates for autoregressive time series with a unit root Journal of the American Statistical Society 74 1979 427-431
12. Dickey D. Fuller W.A. Likelihood ratio of the estimates for autoregressive time series with a unit root Econometrica 49 1981 1057-1072
13. Doroodian K. Koshal R.K. Al-Muhanna S. An examination of the traditional aggregate import demand function for Saudi Arabia Applied Economics 26 1994 909-915
14. Engle R.F. Granger C.W.J. Cointegration and error correction: representation, estimation and testing Econometrica 55 1987 251-276
15. Gafar J.S. The determinants of import demand in Trinidad and Tobago, 1967-1984 Applied Economics 20 1988 303-313
16. Granger C.W.J. Newbold P. Spurious regressions in econometrics Journal of Econometrics 2 1974 111-120
17. Gregory A.W. Hansen B.E. Residual-based tests for cointegration in models with regime shifts Journal of Econometrics 70 1996 99-126
18. Hallam D. Zanoli R. Error-correction models and agricultural supply response European Review of Agricultural Economics 202 1993 151-166
19. Hamilton, J.D., 1994. Time Series Analysis. Princeton University Press, Princeton, NJ.
20. Hamori S. Matsubayashi Y. An empirical analysis on the stability of Japan's aggregate import demand function Japan and the World Economy 13 2001 135-144
21. Hakkio C.S. Rush M. Cointegration: how short is the long run? Journal of International Money and Finance 10 1991 571-581
22. Hong, P., 1999. Import Elasticities Revisited. Department of Economic and Social Affairs, Discussion Paper No. 10, United Nations. Available from http://www.un.org/esa/papers.htm.
23. Johansen S. Statistical analysis of cointegrating vectors Journal of Economic Dynamics and Control 12 1988 231-254
24. Johansen S. Juselius K. Maximum likelihood estimation and inference on cointegration with applications to the demand for money Oxford Bulletin of Economics and Statistics 52 1990 169-210
25. Kremers J.J.M. Ericsson N.L. Dolado J. The power of cointegration tests Journal of Econometrics 52 1992 389-402
26. MacKinnon, J.G., 1991. Critical values for cointegration tests. In: Engle, R.F., Granger, C.W.J. (Eds.), Long-Run Economic Relationships: Readings in Cointegration. Oxford University Press, Oxford (Chapter 13).
27. Masih R. Masih A.M.M. A reassessment of long-run elasticities of Japanese import demand Journal of Policy Modelling 22 2000 625-639
28. Mah J.S. Japanese import demand behaviour: the cointegration approach Journal of Policy Modeling 16 1994 291-298
29. Mah J. An empirical examination of the disaggregated import demand of Korea: the case of information technology products Journal of Asian Economics 11 2000 237-244
30. Obben J. The demand for money in Brunei Asian Economic Journal 122 1998 109-121
31. Osterwald-Lenum M. A note with quantiles of the asymptotic distribution of the maximum likelihood cointegration rank test statistics Oxford Bulletin of Economics and Statistics 54 1992 461-472
32. Pattichis C.A. Price and income elasticities of disaggregated import demand: results from UECMs and an application Applied Economics 31 1999 1061-1071
33. Pesaran, M.H., Shin, Y., Smith, R.J., 2001. Bounds testing approaches to the analysis of level relationships. In: Hendry, D.F., Pesaran, M.H. (Eds.), Studies in Empirical Macroeconometrics (in honour of J D Sargan). Journal of Applied Econometrics 16, 289-326 (special issue).
34. Phillips P.C.B. Perron P. Testing for a unit root in time series regression Biometrika 75 1988 335-346
35. Phillips P.C.B. Hansen B.E. Statistical inference in instrumental variables regression with I(1) process The Review of Economic Studies 57 1990 99-125
36. Rijal A. Koshal R.K. Jung C. Determinants of Nepalese imports Journal of Asian Economics 11 2000 347-354
37. Saikonen P. Asymptotic efficient estimation of cointegration regressions Econometric Theory 7 1991 1-21
38. Sihna D. Determinants of import demand in Thailand International Economic Journal 11 1997 73-83
39. Stock J.H. Watson M.W. A simple estimator of cointegrating vectors in higher order integrated systems Econometrica 61 1993 783-820
40. Tang T.C. Long-run linkages of financial liberalization among ASEAN economies: results from bounds testing approach Journal of Asia-Pacific Affairs 32 2002a 113-134
41. Tang T.C. Aggregate import demand in India: stable or unstable? The Economic Challenger 144 2002b 35-37
42. Tang T.C. Alias H.M. An aggregate import demand function for Malaysia: a cointegration and error-correction analysis Utara Management Review 11 2000 43-57
43. Tang T.C. Nair M. A cointegration analysis of Malaysian import demand function: reassessment form the bounds test Applied Economics Letters 9 2002 293-296
44. World Bank, 2002. World Tables, dx for windows Version 3.0. The Time Series Data Express, EconData Pty. Ltd., 28 February 2002.