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low price elasticities. Furthermore, estimation results strongly depend on the observation period. Minor variations in the … estimation period typically lead to insignificant price terms often displaying the wrong sign. Based on an extensive econometric …. We find that imports, exports, investment, and a relative import price form highly stable cointegration relationships …
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This paper investigates the robustness of CGE models with respect to the elasticities of substitution in demand between domestically produced goods and foreign goods – the so-called Armington elasticities. The Armington-type modeling of trade is still one of the most extensively used...
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cointegration method. The results reveal a significant negative relationship between imports and economic growth, while exports and … driven by exports, imports, and trade openness. The findings suggest that trade liberalisation and export-led growth are … crucial for Namibia's economic development. Overall, this study supports the mercantilist theory, which emphasises the …
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