Trade elasticities in the Middle East and Central Asia : what is the role of oil? / / Dalia S. Hakura and Andreas Billmeier

• Record Nr.: UNINA9910463636303321
• Autore: Hakura Dalia S
• Pubbl/distr/stampa: [Washington, District of Columbia] : , : International Monetary Fund, , 2008; ©2008
• ISBN: 1-4623-5175-1; 1-4527-9347-6; 1-282-84167-X; 9786612841675; 1-4518-7074-4
• Descrizione fisica: 1 online resource (35 p.)
• Collana: IMF Working Papers; IMF working paper ; ; WP/08/216
• Altri autori (Persone): BillmeierAndreas
• Disciplina: 338.516
• Soggetti: Elasticity (Economics) - Middle East; Elasticity (Economics) - Asia, Central; Elasticity (Economics) - Econometric models; Electronic books.
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Description based upon print version of record.
• Nota di contenuto: Contents; I. Introduction; II. Methodology; III. Empirical Analysis of Middle East and Central Asian Countries Elasticities; A. Model Specification and Empirical Strategy; B. Estimation Results; Tables; 1. Volume of Imports: Coefficient Estimates and Implied Elasticities; 2. Export Volumes: Coefficient Estimates and Implied Elasticities; C. Trade Balances; 3. Non-Oil Export Volumes: Coefficient Estimates and Implied Elasticities; 4. Decomposition of the Impact of a Ten Percent Real Depreciation on the Trade Balance of Middle East and Central Asia Countries; 5. Trade Balance Elasticities for Non-Oil Exporting Middle East and Central Asia Countries, 2006 and 20136. Trade Balance Elasticities for Middle East and Central Asia Oil Exporters, and 2013; IV. A Generalized Approach; A. Generalized CGER Methodology; B. Empirical Estimation of ; the Elasticities of the Relative Import and Export Prices to the Real Exchange Rate; 7. Relative Import and Export Price Elasticities to the Real Effective Exchange Rate; C. Alternative Trade Balance Elasticities; 8. Decomposition of the Impact of a 10 Percent Real Depreciation on the Trade Balance of Non-Oil Exporting Middle East and Central Asia Countries9. Decomposition of the Impact of a 10 Percent Real Depreciation on the Trade Balance of Oil-Exporting Middle East and Central Asia Countries; V. Conclusions; References; Appendices; 1. Data Appendix; 2. Derivation of the Formula for the Elasticity of the Trade Balance Vis-à-vis the Real Exchange Rate
• Sommario/riassunto: The analysis in this paper suggests that import and export volume elasticities are markedly lower in oil-exporting Middle East and Central Asian countries than in non-oil countries in the region. A key implication of this finding is that a real appreciation of the exchange rate in oil-exporting countries would achieve little in terms of expenditure switching: an appreciation does not boost imports and non-oil exports constitute only a small share of GDP and total trade in these countries. Therefore, while a real appreciation lowers the current account surplus of oil-exporting countries through