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Error correction models impose few prior restrictions on dynamic model specification and allow the data to determine model structure. Despite this obvious advantage, few applications have adopted the error correction model to explain trade flows. An error correction model of cotton import demand...
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This paper delves into China’s differential growths in trade flows with high income and developing countries by focusing on bilateral content of trade data over the time period 1978-2005. Unlike other studies, we account for end use of traded goods ranging from primary, intermediate, and...
Persistent link: https://www.econbiz.de/10009443281
Replaced with revised version of paper 07/20/06.
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Market access remains a major impediment for expansion of global trade in high-value foods, particularly processed foods. Countries use tariffs and other measures that effectively stimulate imports of relatively unprocessed agricultural commodities at the expense of processed products. Tariff...
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Elevated prices for major U.S. commodities have renewed interest in the price sensitivity of foreign demand facing the United States. Although the elasticity of foreign demand plays an important role in discussions of U.S. farm policy, it is also a parameter that is much debated with the...
Persistent link: https://www.econbiz.de/10010914323