Estimating the price elasticity of China’s imports is difficult because many imports are used to produce exports and because the real effective exchange rate has remained fairly stable. To circumvent the first problem, we control for re-exports, and to increase the discriminatory power of the tests, we employ a panel data set including imports from 25 countries. The results indicate that a 10 p...

Empirical studies of international trade have concentrated on singleequation models to analyse the demand relationship for imports and exports [Houthakker and Magee (1969). Naqvi et al (1983), Bnhmani-Oskooee (1984,1986)]. These studies have assumed that the imports and exports price elasticities facing any individual country are infinite or at least large. The assumption of infinite supply pri...

This paper examines the experience of 10 Asian countries with respect to growth, trade and FDI. It explores relationships between the nature of exports and imports and growth, as well as the relevance of FDI as a channel for these relationships. We find that FDI is often positively correlated with higher productivity levels in exports and imports. The effect for imports is particularly apparent...

Using detailed micro data from the Indonesian manufacturing sector; we examine whether participation in international trade affects establishments' productivity. Establishments participating in exports or imports have relatively high levels of productivity. Furthermore, the results suggest that establishments engaged in exports have shown comparable high productivity growth. The larger the shar...

We measure the dollar risk exposure of U.S. industries by regressing stock portfolio returns on each industry against the returns on a broadly defined dollar index. The exposure estimates vary widely across different industries in both magnitudes and directions. We trace this large cross-sectional variation in dollar exposure to the industry’s average import and export activities. We find that ...

South African trade policy has exerted a major influence on the composition and aggregate growth of trade. In the Apartheid period, trade protection seriously impeded both exports and imports, and the economy depended on favorable global commodity price trends to avoid running into an external constraint. South Africa developed a comparative advantage in capital-intensive primary and manufactur...

This paper examines the effect of value-added taxes (VATs) on international trade. Destination-based VATs are commonly thought to encourage exports, since exports are exempt from tax while imports are taxed. Economic theory implies that exchange rate adjustment prevents destination-based VATs from affecting exports and imports, since exchange rate appreciation completely undoes the effects of i...

In early 2013 rumors about the Euro-appreciation gained momentum, which may lead to decreases in exports and increases in imports of the member states. Therefore, we investigate the impact of changes in the nominal Euro exchange rate vis-à-vis major currencies on export and import performance of nine different Euro-area-countries. To disentangle the “true” equilibrium elasticities SURE system e...

We provide an analysis of the 2008-2009 trade collapse using microdata from a small open economy, Belgium. First, we find that changes in firm-country-product exports and imports occurred mostly at the intensive margin: the number of firms, the average number of destination and origin markets per firm, and the average number of products per market changed only very little. Second, econometric a...

We used a gravity model to investigate determinants of China’s pulp and paper products trade from 1995 to 2005. The results show that an importing country’s economy size, forest endowment, distance to China, exchange rate, and membership in Asia Pacific Economic Cooperation (APEC), plus China’s accession to the World Trade Organization (WTO) and its forest products policy change implemented in ...