This paper examines the effectiveness of the financial embargo on South Africa, which was imposed in 1985 and lifted in 1993. The theoretical framework is a simple small open economy version of Ramsey's growth model calibrated to South African conditions. The South African embargo event is...

This paper estimates price and income elasticities for bilateral trade equations between Sweden and her eight major trading partners for the period 1960-2001. The methodology used here is the likelihood-based panel cointegration recently developed in the literature. Evidence is found that...

In this paper, we use the Johansen and Juselius cointegration technique to examine the long-run convergence between imports and exports for a number of industrialized countries. The results indicate that there exists a long-run steady-state relationship between imports and exports for most...