05109oam 22009734 450 991078834530332120230721045626.01-4623-5175-11-4527-9347-61-282-84167-X97866128416751-4518-7074-4(CKB)3170000000055119(EBL)1608029(SSID)ssj0001487328(PQKBManifestationID)11903119(PQKBTitleCode)TC0001487328(PQKBWorkID)11478362(PQKB)11278169(OCoLC)762336572(MiAaPQ)EBC1608029(IMF)WPIEE2008216(EXLCZ)99317000000005511920020129d2008 uf 0engur|n|---|||||txtccrTrade Elasticities in the Middle East and Central Asia : What is the Role of Oil? /Andreas Billmeier, Dalia HakuraWashington, D.C. :International Monetary Fund,2008.1 online resource (35 p.)IMF Working PapersIMF working paper ;WP/08/216Description based upon print version of record.1-4519-1527-6 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 Countries5. 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 Elasticities8. 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 RateThe 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 valuation effects, the contribution to lowering global imbalances may be more limited.IMF Working Papers; Working Paper ;No. 2008/216Elasticity (Economics)Middle EastElasticity (Economics)Asia, CentralElasticity (Economics)Econometric modelsExports and ImportsimfMacroeconomicsimfPrice LevelimfInflationimfDeflationimfTrade: GeneralimfEmpirical Studies of TradeimfInternational economicsimfTrade balanceimfExport pricesimfExportsimfImport pricesimfImportsimfBalance of tradeimfSaudi ArabiaimfElasticity (Economics)Elasticity (Economics)Elasticity (Economics)Econometric models.Exports and ImportsMacroeconomicsPrice LevelInflationDeflationTrade: GeneralEmpirical Studies of TradeInternational economicsTrade balanceExport pricesExportsImport pricesImportsBalance of trade338.516Billmeier Andreas1493502Hakura Dalia1472693DcWaIMFBOOK9910788345303321Trade Elasticities in the Middle East and Central Asia3716504UNINA