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Over the last 25 years, the Latin American beer sector has undergone important changes. The growth in beer production, consumption, and trade has been accompanied by a greater demand for malt and barley produced and traded in the region, displacing other traditional export countries of these inputs. Based on these facts, we studied the long-term relationship between this increase in beer production and the prices of imported inputs. In addition, we estimated the elasticities of demand of imported inputs of the main Latin American brewing countries. This allows us to infer about Latin America's competitive position as a supplier of its own beer inputs. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Management & Agribusiness / Jurnal Manajemen & Agribisnis is the property of IPB University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The study of the role of the Ukrainian agricultural sector in meeting the demand for organic products in the European Union is vital for understanding and maximising the benefits for Ukraine. This is crucial in the context of the development of the organic market and expanding cooperation with Europe, which indicates the relevance of the problem discussed in the present study. The purpose of this study was to identify the current position, dominant trends, and prospects for increasing Ukrainian organic imports to the European Union. The methodological framework of this study included the general and special methods of scientific cognition: monographic, dialectical, tabular, graphical, abstract and logical, and comparative analysis. The study analysed the vectors and dynamics of development of organic agriculture in the European Union, specifically, identified the growth of domestic and import demand for organic products, expansion of the list of commodity items, the existence of a gap between supply and demand, and high concentration of the commodity structure of imports. The study found the principal factors that ensure Ukraine’s leading position among the key importers of organic food: geographical location, increase in domestic production of organic products, improvement of the system of its certification, and establishment of partnerships with the European Union. Ukraine’s position in most commodity groups of import demand for organic products has been strengthened: specifically, Ukraine’s share of imports has increased, and its structural characteristics have improved in terms of increasing the share of high value-added products. The study highlighted the barriers faced by Ukrainian exporters when entering the European market and acting as a deterrent to expanding the volume and range of exported organic products. The areas for increasing the potential of Ukraine in meeting the demand for organic products in the European Union were outlined. The findings of this study provide valuable information for producers, entrepreneurs, and stakeholders involved in the development of the organic market in Europe and sustainable agriculture. The outlined priorities for the development of organic production in Ukraine can underlie the development of a national programme aimed at increasing the competitiveness of the Ukrainian organic industry in the markets of the European Union

Purpose: After the trade liberation, Bangladesh has faced the crisis of trade imbalance. Therefore, trade liberation is considered as the driving force behind the crisis. To investigate this historical allegation, this study aims at analysing the factors that determined the post trade liberalisation aggregate import demand function of Bangladesh. Design/Methodology/Approach: Based on quarterly data from trade liberalisation period to reaching the economic stability period, 1992Q1 - 2007Q4, an autoregressive distributed lag (ARDL) approach to cointegration and an error correction model (ECM) have been utilised to estimate the impacts of natural calamity, gross domestic product, foreign exchange reserve, relative price and tariff on aggregate import demand of Bangladesh. Findings: Empirical results revealed that the natural calamity is identified to be nonresponsive to the nation's aggregate import demand both in the short and long run. This indicates that Bangladesh can meet the natural crisis related demand by herself without influencing its aggregate import demand. Results also revealed that the import volume of Bangladesh is cointegrated with relative import price, actual GDP and real foreign exchange reserve of the country. The import demand of the country can largely be described by its real GDP, while it is found inversely associated with relative price ratio in the long run. The long run association among import demand and tariff rate indicates that trade liberalisation has a significant positive impact on the country's aggregate import demand, as well as real foreign exchange reserve, as explained by the reduction in tariff rate. Research Implication: Developing countries like Bangladesh and the relevant business stakeholders would have considerable implications of such empirical findings with their trade policies, particularly how they should respond to unpredictable scenarios caused by the factors such as natural calamity, foreign exchange reserve, tariff, etc. Originality Value: The originality of the study lies in its uniqueness in using the historical data and factors that no studies have so far used in analysing the import demand function of Bangladesh. [ABSTRACT FROM AUTHOR]

We examine the dynamic impact of the functional distribution of income on the demand for imports in developed and developing countries. Drawing upon a motivating accounting structure suggesting a potentially causal effect of the functional distribution of income in an extended version of a standard import function, we find evidence that a fall in the wage share has a statistically significant positive (negative) impact on the volume of imports in developing (developed) countries and the entire sample of countries. Therefore, the neglect of such income distribution effects in import demand functions represents the omission of both an empirically relevant variable and a further theoretically significant structural channel through which the functional distribution of income affects output growth. A key implication is that the impact of the functional distribution of income on the demand for imports has to be considered in growth empirics based on either a binding balance-of-payments constraint in the Kaldor–Thirlwall tradition or a demand-led regime approach or a competitive real exchange rate. • We investigate the impacts of the functional distribution of income on imports in developed and developing countries. • GMM estimation techniques are used to deal with the dynamic nature of the issue. • A fall in the wage share has a significant positive (negative) effect on imports in developing (developed) countries. • Structural features of countries matter for the macroeconomic implications of distributional changes. • Neglecting distributional effects in import functions means omitting an important variable. [ABSTRACT FROM AUTHOR]

We estimate export and import demand elasticities of Greece between 1995 and 2018 by establishing cointegrating relationships between exports or imports, income and the real effective exchange rate. When accounting for structural breaks in the series, we observe that the long‐run income elasticities of exports and imports are elastic and decline throughout the sample period. The structural component of the Greek trade growth decreases across time. The cyclical counterpart rises and exhibits high variation. Changes in the real effective exchange rate have the opposite than predicted effects on trade in the postcrisis period for exports and throughout the sample for imports. [ABSTRACT FROM AUTHOR]

The decline in the production of basic grains in Mexico has intensified since the 1990s, with wheat (Triticum) being no exception. This reduction was covered by the growth of Mexican imports. The objective of this research was to analyze the import demand function for wheat from 1994, the time of the initiation of the North American Free Trade Agreement (NAFTA). An autoregressive distributed lag (ARDL) model revealed the change in the conditional mean import demand using variations in its determinants, the Global Indicator of Economic Activity (IGAE for its Spanish acronym) and the real exchange rate, as proxy variables for income and relative prices, respectively. However, the conditional mean is insufficient in a context of increasing foreign purchases of wheat and outliers. Through a quantile extension of the ARDL model (with the acronym QARDL), we then found that the change in imports, and the relevance of the determinants, differed across import levels. In the short term, the upper quantiles of wheat imports responded mainly to their history and the exchange rate. Meanwhile, in the long term, the IGAE and the exchange rate influenced the lower quantiles of imports. We conclude that there was an asymmetric response in the conditional distribution of imports. In other words, this study provides evidence of short- and long-term location asymmetry in wheat imports under NAFTA. The research contributes to the econometric study of basic grain imports. For the first time, the QARDL model is used to understand the relationship between imports and their determinants, and the circumstances under which its use is recommended are indicated. Therefore, a new econometric method is used, avoiding the linearity of the ARDL model, and thus allowing a detailed and accurate estimation of the demand for imports. Consequently, the estimates and conclusions obtained will undoubtedly help economic agents to make more efficient decisions, from national and international investors to government agencies responsible for the promotion of Mexican agriculture. [ABSTRACT FROM AUTHOR]

A dynamic AIDS model was employed to estimate the expenditure, own-price, and cross elasticity of five major import source countries for shrimp, salmon, albacore and tuna, crab, and cuttlefish in Japan. Our findings show that COVID-19 has had no significant impact on Japan's fishery imports in the short term. The expenditure elasticities of fishery imports in Japan are greater than 1 or close to 1, implying that consumers in Japan have a relatively high dependence on fishery imports. Specifically, the expenditure elasticities of shrimp and cuttlefish imports from Vietnam, albacore and tuna imports from Australia, and crab imports from Russia are close to 1, while their own-price elasticities are the least sensitive compared with other import source countries, suggesting a greater export potential in the Japanese market. [ABSTRACT FROM AUTHOR]

Even though there have been a few studies on Bangladesh's aggregate import demand, the effects of the global financial crisis (GFC) on aggregate import demand still need to be measured. The short-run determinants of import demand also remained to be identified in the country. This paper explores both short-run dynamic and long-run cointegrating relationships, capturing the impact of the GFC on aggregate import demand. This study uses annual data from 1980 to 2021 (N = 42) and employs different econometric techniques for efficient results essential for compelling policy implications. The study derives an efficient dynamic equation using the best error correction mechanism. Additionally, this study includes unconventional determinants, namely, foreign currency reserves and components of expenditure (i.e., exports, private consumption and government expenditures, and expenditures on investment goods), along with the traditional import demand function. The study finds that all conventional and unconventional determinants of import demand are significant in both the long and short run. All determinants except relative price positively influence the volume of import demand. The income elasticity reduces over time, and the price inelasticity remains non-zero and negative, which indicates the competitiveness of domestic product substitutes for importable goods in the economy. In the long run, trade liberalization and foreign currency reserves have a limited positive influence on import demand. The findings of this study would be helpful for import-related policy implications in the country.

This paper empirically analyzes import demand for nuts in Korea using Almost Ideal Demand System (AIDS). Six budget shares and prices demand equations for nuts group: almond, pistachio, walnut, cashew, hazelnut and macadamia are analyzed during the period 2009 to 2019. Empirical results show that all uncompensated own-price elasticities are negative, walnut and pistachio are own-price elastic while almond, cashew, hazelnut and macadamia are own-price inelastic. Uncompensated cross-price elasticities indicate that nuts have both complementary and substitutable relationships. Expenditure elasticities reveal that all import nuts are expenditure inelastic and they can be considered as necessary goods in Korea. Our research can help related to policy decision for the demand of Korea import nuts.

This article examines the import behavior of major importers of corn over the period of 1996 to 2016. The article uses an upper-stage import demand equation for corn to estimate countries' elasticities of import demand with respect to income/GNP, the import price, exchange rate, domestic corn production, and animal inventories. The article also examines whether countries' corn import demand is sensitive to changes in income and the exchange rate during macroeconomic downturns, specifically when both nominal GNP falls and the currency depreciates. The results show greater import demand responsiveness in periods of macroeconomic stability, as opposed to downturns. [ABSTRACT FROM AUTHOR]

The decline in the production of basic grains in Mexico has intensified since the 1990s, with wheat (Triticum) being no exception. This reduction was covered by the growth of Mexican imports. The objective of this research was to analyze the import demand function for wheat from 1994, the time of the initiation of the North American Free Trade Agreement (NAFTA). An autoregressive distributed lag (ARDL) model revealed the change in the conditional mean import demand using variations in its determinants, the Global Indicator of Economic Activity (IGAE for its Spanish acronym) and the real exchange rate, as proxy variables for income and relative prices, respectively. However, the conditional mean is insufficient in a context of increasing foreign purchases of wheat and outliers. Through a quantile extension of the ARDL model (with the acronym QARDL), we then found that the change in imports, and the relevance of the determinants, differed across import levels. In the short term, the upper quantiles of wheat imports responded mainly to their history and the exchange rate. Meanwhile, in the long term, the IGAE and the exchange rate influenced the lower quantiles of imports. We conclude that there was an asymmetric response in the conditional distribution of imports. In other words, this study provides evidence of short- and long-term location asymmetry in wheat imports under NAFTA. The research contributes to the econometric study of basic grain imports. For the first time, the QARDL model is used to understand the relationship between imports and their determinants, and the circumstances under which its use is recommended are indicated. Therefore, a new econometric method is used, avoiding the linearity of the ARDL model, and thus allowing a detailed and accurate estimation of the demand for imports. Consequently, the estimates and conclusions obtained will undoubtedly help economic agents to make more efficient decisions, from national and international investors to government agencies responsible for the promotion of Mexican agriculture.

The study aims to see whether the long-run relation between inequality and import demand exists in Turkey. The Autoregressive Distributed Lag (ARDL) cointegration technique is used in this study to estimate the long-run relationships between real imports, income, relative price, real exports, and inequality for the period 1982-2015. The results revealed that the income elasticity of imports is greater than one as the literature suggests. The sign of the coefficient of relative price and its magnitude is also compatible with the literature, while it is not statistically significant. However, the results further reflect that inequality is positively associated with real imports in Turkey contrary to assumptions of the relation between inequality and imports that is found to be negative for lower income countries in some studies. Short-run coefficients reflect that real income and relative prices are associated with real imports, whereas exports and not surprisingly, inequality variables are not in the short-run. The coefficient of income parameter is less in magnitude in the short-run but still greater than one. However, the sign of the coefficient of the relative price turns out to be positive in the short-run. [ABSTRACT FROM AUTHOR]

This paper aims to examine price and income elasticity of import demand in Czech Republic and Hungary while allowing parameters of import demand to vary over time. Research sample consists of quarterly time series data the first quarter of 1996 to the third quarter of 2018. The results were obtained following state space model with time-varying parameters approach. The results revealed import demand elastic to changes in income in both countries while the elasticity was found to be higher in Hungary comparing to Czech Republic. Elasticity of import demand to changes relative prices were found in Hungary while in case of Czech Republic the price elasticity estimates indicated convergence of prices. Based on the empirical results from this research, the paper brings country-specific policy implications.

This study attempts to improve Malaysia's aggregate import demand functions by considering disaggregated imports using import data classified by broad economic categories (BEC). The results suggest that the deeper the country's involvement in international production sharing, the less essential relative prices will become. Economic growth driven by the electric industry might not harm the trade balance. However, an increase in domestically produced transport equipment might negatively affect the trade balance. Thus, developing and facilitating domestic production in the automobile industry is essential, and the government is advised to design policies to promote relevant industries. [ABSTRACT FROM AUTHOR]

Import demand elasticities are regularly used to compute trade restrictiveness indices, to transform estimated effects of trade policies into ad-valorem equivalents, or to judge on the prohibitive level of various tariff and non-tariff policy instruments. The fast rising number of negotiations of free trade agreements and the fact that non-tariff measures are at the core of these strongly motivates for an update of the import demand elasticity estimates provided by Kee, Nicita, and Olarreaga in 2008 which are based on trade data for the period 1988–2001. Following their GDP function approach, we present import demand elasticities for more than 150 countries and over 5000 products over the period 1996–2014. Countries exhibiting the highest average elasticities belong to the economically biggest countries in their respective regions, while countries with the lowest import demand elasticities are typically small island states. Import-weighted results suggest that especially countries rich in natural resources are facing an inelastic import demand, with the agri-food sector being more price-responsive than the manufacturing sector. Finally, import demand for intermediate goods seems to be more elastic than demand for products destined for final consumption. [ABSTRACT FROM AUTHOR]

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Introduction: The study examines the importance of intertemporal substitution in import demand considering the role of habit formation. A two-goods version of the permanent income model is used in which time-non-separability in consumers's preferences is assumed. The model is estimated using annual data for Pakistan at disaggregated level covering the period from 1977 to 2017. Objectives: The objective of the study is to estimate elasticities of substitution along with parameters of habit formation for consumption goods at a disaggregated level. Method: The study employs co-integration for the estimation of parameters of elasticities of substitution and generalized method of moments (GMM) for the estimation of the parameters of habit formation from Euler equations. Findings: The estimates of intertempral elasticity of substitution suggest that the nature of commodity group (necessity/luxury) plays an important role when consumers are making intertemporal choices. Moreover, the study finds that intratemporal elasticity of substitution is larger than intertempral elasticity of substitution in almost all cases in Pakistan, suggesting that imported and domestic goods are best described as substitutes in Edgeworth-Pareto sense. In addition, the inclusion of habit formation delivers results with plausible signs and the habit formation process seems significant for certain commodity groups including tea, beverages, tobacco products and drugs. Conclusion: The study concludes that there is a possibility of crowding out effect on domestic consumption and the depreciation of local currency may improve Pakistan's balance of trade. [ABSTRACT FROM AUTHOR]

The paper aims to examine Croatian import demand elasticities to changes in income and relative prices while allowing time variation in parameters of import demand. Data sample consist of quarterly time series data over the period 2000 q1 -2018 q3. Following state space model with time-varying parameters approach estimates were obtained and tested. The results revealed persistent and high income elasticity of import demand in Croatia. However, the role of relative prices has changed over the observed period and eventually cannot be distinguished from zero. The findings from this research supported the hypothesis of prices convergence in Croatia towards the prices within European Monetary Union member countries. Furthermore, results found no significant effect on Croatian import demand when Croatia joined the European Union. The research results indicate that, due to a relatively high income elasticity of import demand and convergence of import prices, production of innovative and sophisticated products should be facilitated.

Copyright of Istanbul Journal of Economics / İstanbul Iktisat Dergisi is the property of Istanbul Journal of Economics / Istanbul Iktisat Dergisi and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The article aims at assessing consumer potential of the East Asian region in the context of diversification of economic growth sources and its transition to consumption-led economic growth model. Favorable social, demographic and economic trends, as well as demand-stimulating policies, implemented by governments and monetary authorities of the most of regional economies, entail a rapid increase in the private consumption contribution to economic growth, lead to a gradual transformation of the commodity structure of consumption, and import demand, which opens up new opportunities for exporters from the third countries, including Russia. The analysis made it possible to make a number of practical conclusions. Given consumer potential and mutual trade dynamics, China and Vietnam, to a lesser extent Malaysia, are of the greatest interest to Russia, while Thailand, Indonesia and the Philippines’ potential can be implemented in medium-term perspective (5-10 years). Russian mining, agricultural and heavy engineering industries (mainly, aircraft, space and power engineering) can become the key beneficiaries of the growing consumer potential in East Asia.

The phenomenon of globalization is a process that has been discussed by policy makers and planners in recent decades. Globalization is the merging of national economies with the global economy, the effects of which can be seen in the growth of international trade, the globalization of production, and the flow of foreign direct investment. Today, the development of non-oil exports is a necessity, because it increases foreign exchange earnings, and as a result, makes it possible to implement economic development programs that involve foreign exchange costs. Theoretically, although free trade increases the growth of imports and exports, it depends on the relative effects of the growth of exports and imports, as well as on relative price changes. It is clear that globalization is causing rapid growth in world trade, hence reducing the cost of information and communication. Given the importance of the agricultural sector in developing countries and the need for Iran to join the World Trade Organization and free trade, the purpose of this study is to investigate the impact free trade on exports and imports of selected agricultural products in Iran. For this purpose, it is necessary to estimate import and export patterns. In this study, the export supply function and the import demand function of selected agricultural products were calculated, the variability of variables were investigated and the effects of clearance on them were investigated using the ARDL method and the Nerlaw model. Eviews software was used to analyse the data. The results showed that with trade clearance, export supply and import demand will increase. In other words, these two variables have a positive relationship with the commercialization process.

Copyright of Strategy & Development Review is the property of Strategy & Development Review and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

As the leading import market for cotton, and leading export market for manufactured products like clothing and apparel, China provides the ideal case for examining how the COVID‐19 pandemic is affecting international cotton trade. The COVID‐19 outbreak has resulted in decreased global demand for products like clothing, directly affecting China's demand for cotton from exporting countries. In this study, we examined Chinese demand for imported cotton by product form (raw cotton and yarn) and by source (e.g., United States, India), as well as the dynamic price relationships across countries. Using year‐to‐date trade, demand estimates, and price forecasts, we assessed the impact of COVID‐19 on Chinese imports and the countries supplying this market. Depending on the projections, the most severe impacts of COVID‐19 on Chinese cotton imports are either behind us, or the latter half of 2020 could potentially be just as bad as the early part of the year. The outcome depends on the impact of manufactured‐product prices on imports; the effects of which are large but insignificant. As a consequence, even when imports from certain countries are projected to significantly decline, projection intervals suggest the possibility of a negligible decline or even a positive outcome. [ABSTRACT FROM AUTHOR]

This paper attempts to explore the short-term dynamics of price and income import demand elasticities in the case of Hungary. Research data encompass the time period from 1996Q1 to 2018Q3. Using a relatively novel approach of T.V.P. (time-varying parameters) this paper gives further insight into the short-term dynamics of Hungarian imports. Income import demand elasticity was found to be significant and mostly positive while price effect was time-dependent and bidirectional rendering itself non-significant in the final state. Furthermore, Hungary's accession to European Union was not significantly influencing import demand patterns with other European Union members. These findings add new information to the body of knowledge regarding import trade elasticities of transition countries. [ABSTRACT FROM AUTHOR]

The notion of the determinants of import demand has become a major policy issue in most countries due to the persistent trade deficits being experienced and their effects on the economy. Against this backdrop, this study empirically examined the factors determining import demand in Zimbabwe using a gravity model. Forty trading partners for Zimbabwe and data for the period 2004 to 2017 were employed. The model was estimated using Ordinary Least Squares (OLS) with and without fixed effects and the findings were that gross domestic product and trade openness for Zimbabwe and her trading partners had a positive impact on import demand. Furthermore, inflation and population for Zimbabwe as well as its trading partners’ and bilateral distance were found to be negatively related to import demand. More so, the study found out that dollarization has managed to increase import demand. Based on these findings, policies directed at reducing import demand should target trade openness, population and inflation level. The findings also imply that de-dollarization is an effective strategy to reduce import demand.

Aggregate export supply function for US corn and bilateral import functions for US corn by Mexico, Japan, China, South Korea, and the EU are estimated using ARDL estimation techniques. The findings of the study show that export price, technology, and lagged exports impact positively on US corn exports, while real effective exchange rates and ethanol production negatively impact US corn export. In addition, the current import price had a negative effect on Mexico, China, and the EU demand for US corn. However, for Japan and South Korea, it is the previous price that negatively affects corn import. More so, livestock production, NAFTA and WTO involvement positively affected corn import by all importing countries. Also, the Chinese population positively impacted corn import from the US. GDP in Mexico, Japan, South Korea, and the EU had a positive effect on corn imports, while China’s GDP impacted negatively on corn imports. More so, the US has a more price elastic supply of corn. Mexico, Japan, South Korea, and the EU have price inelastic demand for US corn, while China has price elastic demand suggesting China is very price sensitive. The results of this study have important implications for global corn trade and the US economy. The results suggest that increases in livestock production in all importing countries could lead to a significant increase in demand for U.S. corn. Also, policies that enhance NAFTA and WTO could lead to a dramatic increase in demand for U.S. corn.

In this work, we analyse EU soybean and maize imports using a demand system borrowed from the differential approach to firm theory. Alongside providing own-price and cross-price (i. e. cross-country) elasticities for these two products, we test whether source-specific characteristics exert any influence on complementarity and substitution patterns between international exporters. Specifically, we look at country differences stemming from supply chain efficiency and the asynchronous approval of Genetically Modified (GM) varieties. We do so by introducing two measurements for such features into a linear demand model specified by Laitinen and Theil (1978). Estimation results suggest that the EU import structure is not affected by differences in supply chain efficiency between overseas suppliers while, depending on the product, asynchronous approval does seem to have an influence. We find that imports of maize are more sensitive than those of soybeans to differences in approval statuses between international exporters and the EU. Since soybean availability is a limiting factor for the EU feed industry, avoiding stock shortages may be a priority for European importers, hence the weaker effect of asynchronous approval. On the other hand, the substantial EU self-sufficiency for maize places more emphasis on product characteristics and prices. [ABSTRACT FROM AUTHOR]

This paper aims to examine price and income elasticity of import demand in Czech Republic and Hungary while allowing parameters of import demand to vary over time. Research sample consists of quarterly time series data the first quarter of 1996 to the third quarter of 2018. The results were obtained following state space model with time-varying parameters approach. The results revealed import demand elastic to changes in income in both countries while the elasticity was found to be higher in Hungary comparing to Czech Republic. Elasticity of import demand to changes relative prices were found in Hungary while in case of Czech Republic the price elasticity estimates indicated convergence of prices. Based on the empirical results from this research, the paper brings country-specific policy implications. [ABSTRACT FROM AUTHOR]

The Food Safety Modernization Act (FSMA) provides new U.S. food safety standards to lower the incidence of foodborne diseases. We analyze the FSMA in terms of adoption effects on differently sized domestic and foreign farms producing fresh tomatoes for the U.S. market. Findings indicate that adoption of the FSMA will negatively affect the revenues of very small farms the most as well as small U.S. farms. However, it will positively affect the revenues of foreign farms (especially Canadian) and large U.S. farms. This may lead to the restructuring of tomato production and distribution in the U.S. tomato market. [ABSTRACT FROM AUTHOR]

This paper provides a review of the theoretical and empirical literature on the key determinants of import demand in developing and developed countries. On the whole, the findings from the studies reviewed in this paper show that the determinants of import demand differ from country to country and over time, and depend on the proxies used to measure import demand. Moreover, the findings confirmed that the key drivers of import demand depend on whether the income variable is used as a single variable or is disaggregated into different components. In general, the majority of the studies found that income and relative import price are the key determinants of import demand – although the nature of the impact of these factors differs from country to country. [ABSTRACT FROM AUTHOR]

This study investigates the impact of the exchange rate on trade flows by using a two-stage demand model. The elasticity of exchange rate pass-through (ERPT) derived from the model is determined by demand elasticity, excess supply elasticity, elasticity of substitution, and market share. The empirical case is the US salmon import market. For the primary export countries, the elasticity of ERPT ranges between 0.37 and 0.62 in the long run. Although the empirical results suggest a partial ERPT in this market, there is no evidence of an asymmetric ERPT, as revealed by the simulated ERPT elasticities. [ABSTRACT FROM AUTHOR]

Aggregate export supply function for US corn and bilateral import functions for US corn by Mexico, Japan, China, South Korea, and the EU are estimated using ARDL estimation techniques. The findings of the study show that export price, technology, and lagged exports impact positively on US corn exports, while real effective exchange rates and ethanol production negatively impact US corn export. In addition, the current import price had a negative effect on Mexico, China, and the EU demand for US corn. However, for Japan and South Korea, it is the previous price that negatively affects corn import. More so, livestock production, NAFTA and WTO involvement positively affected corn import by all importing countries. Also, the Chinese population positively impacted corn import from the US. GDP in Mexico, Japan, South Korea, and the EU had a positive effect on corn imports, while China's GDP impacted negatively on corn imports. More so, the US has a more price elastic supply of corn. Mexico, Japan, South Korea, and the EU have price inelastic demand for US corn, while China has price elastic demand suggesting China is very price sensitive. The results of this study have important implications for global corn trade and the US economy. The results suggest that increases in livestock production in all importing countries could lead to a significant increase in demand for U.S. corn. Also, policies that enhance NAFTA and WTO could lead to a dramatic increase in demand for U.S. corn. [ABSTRACT FROM AUTHOR]

The notion of the determinants of import demand has become a major policy issue in most countries due to the persistent trade deficits being experienced and their effects on the economy. Against this backdrop, this study empirically examined the factors determining import demand in Zimbabwe using a gravity model. Forty trading partners for Zimbabwe and data for the period 2004 to 2017 were employed. The model was estimated using Ordinary Least Squares (OLS) with and without fixed effects and the findings were that gross domestic product and trade openness for Zimbabwe and her trading partners had a positive impact on import demand. Furthermore, inflation and population for Zimbabwe as well as its trading partners' and bilateral distance were found to be negatively related to import demand. More so, the study found out that dollarization has managed to increase import demand. Based on these findings, policies directed at reducing import demand should target trade openness, population and inflation level. The findings also imply that de-dollarization is an effective strategy to reduce import demand. [ABSTRACT FROM AUTHOR]

The fundamental objective of this study is to estimate for basic trade elasticity and assess the impact of trade liberalization on Pakistan's import demand in bilateral case for a sample of selected countries. In sample, countries are selected from both the developed and developing world on account of their greater share in Pakistan's total imports. The method of autoregressive distributed lag model with a new strategy is performed using annual data for the time period of 1982-2016. Results indicate that co-integration exist in all bilateral cases. The domestic income is statistically significant determinants both in short and long run with expected positive signs and their estimates are highly elastic. The estimates of income coefficient range from 1.54 to 7.42 which indicate that as the economy grows, Pakistan, imports from trading partners also surge with greater velocity. The price is according to the expected signs i.e. negative and insignificant in most cases, except in the case for Japan and Indonesia where it is significant but inelastic i.e. the coefficient value is looking less than 0.6 in all cases. In nutshell the trade liberalization impact is looking positive and statistically significant in many country cases. However, these effects are different for each era of trade liberalization and vary from country to country level. This is indeed the case, where different import policies need to implement rather than a single trade policy to supervise excessive imports of the country. [ABSTRACT FROM AUTHOR]

We evaluate the impact of the US-China trade war using a dynamic computable general equilibrium (CGE) model of global trade. We conduct ex ante simulation analysis exploring three scenarios to understand how the trade war affects import tariffs, investment, and productivity. The escalation of the trade war reduces gross domestic product (GDP) in China and the USA by -1.41% and -1.35%, respectively. The trade war reduces nearly all sectoral imports and outputs in both countries. To reflect the important role of global value chains (GVCs), we modify the dynamic CGE model with agent-specific import demands, and we explore the difference between the results for the two models relating to the trade war impacts on GDP and bilateral trade. When GVCs are accounted for, the negative impacts on bilateral trade are more widespread across countries, and world GDP in the modified model is reduced by -$US450 billion. These results suggest that the GVCs play substantial role in determining trade responses at the disaggregated level. [ABSTRACT FROM AUTHOR]

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Few studies to date have investigated the extent of linkages between long-run asymmetries in bilateral trade and fluctuations in real exchange rates and importer demand in non-oil commodity markets. This paper generates estimates of trade elasticities in U.S. raw coffee imports, applying a nonlinear autoregressive distributed lag model and explicitly testing the extent to which nonlinearities matter to U.S. commodity sourcing in the short and long run. Models with asymmetries in both exchange rates and U.S. income point to the critical role that asymmetric pass-through plays in explaining long-run dynamics in U.S. import trade for a major commodity supply chain.

Indonesian cocoa industry has been transforming into a processed cocoa exporter by imposing export taxes. The policy has managed to increase exports of processed cocoa and decreased cocoa bean exports. However, overall export value of cocoa commodities (cacao bean and processed cocoa) has a declining trend, where an increase in the export value of processed cocoa has not been able to offset the decline in the export value of cocoa beans. This study evaluates the impact of the cocoa bean export-tax policy on demand for Indonesian cocoa in the Malaysian market using elasticity and ARDL model. Findings/Originality: This study finds that the demand for Indonesian cocoa is short-term in nature, and the volume of Malaysian demand for Indonesian cocoa is rapidly decreasing because cocoa beans is a complement for other cocoa suppliers. These conditions indicate that the quality of Indonesian cocoa does not meet the standard. That is also indicated by the increase in imports of cocoa beans to meet the processing needs of cocoa in Indonesia

Foreign trade elasticities are considered to be crucial for both economic forecasting and international policy analysis. The value of trade elasticities has remained the subject of diverse opinion in most international economic policy debates. Therefore, this paper uses import substitution model framework to estimate the price and income elasticities of imports demand on agricultural products in Iraq for the period 1980 - 2018. We use Autoregressive Distributed Lag model (ARDL) to study the long run relationship between variables of the study. The results of the unit root test based on ADF and PP provide justification for the use of ARDL bound test. The co-integration results show that there is a long run relationship between import demand of agricultural products and the chosen explanatory variables, thus all the variables move together in the long run. The estimated long run coefficients show that the price and income elasticities of import demand of agricultural products in Iraq were about 0.01 and 0.45 respectively during the period covered. This implies that the long run import demand of agricultural products in Iraq has been price-and income-inelastic since the sizes of the coefficients of real GDP and relative agricultural prices were less than unity and among the explanatory variables studied, real GDP was the main determinant of import demand of agricultural products in Iraq. Furthermore, the long run coefficient of domestic prices which is also regarded as the cross price elasticity of import demand of agricultural products with respect to local products was about 0.046 and statistically insignificant, thus there is evidence of imperfect substitution between import agricultural products and domestically products. The results from the short run of the model suggest that about 52% of the disequilibrium between the long run and short run import demand on agricultural products is corrected each year. [ABSTRACT FROM AUTHOR]

This document presents a graphical and econometric analysis of food sovereignty of basic grains (rice, beans, corn and wheat), measured through their imports, for the case of Mexico since the establishment of NAFTA. The graphical analysis described the behavior of the harvested area, the production, the import, as well as the supply of each crop. Regarding the econometric analysis, a Johansen cointegration approach was used, with which the income and price elasticities of the demand for basic grain imports were gotten. It was concluded that food sovereignty deteriorated in the period 1994-2016; each year Mexico depended more on imports to satisfy domestic demand of basic grains, increasing this demand with raises in economic activity and the real exchange rate. [ABSTRACT FROM AUTHOR]