Price and Income Elasticities of Russian Exports

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ID: 84963
2004
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Abstract
The paper gauges export demand elasticities for Russia using an Error Correction technique within a cointegration framework. An extended version of the Imperfect Substitutes Model has been implemented to estimate the sensitivity of Russian exports without oil components to price and to Russian and world income. Our results suggest a robust and negative long run cointegration relationship between the real effective exchange rate, defined as the weighted average of the rouble’s exchange rates versus a basket of the three currencies with the largest share in the trade turnover adjusted to incorporate inflation rate differences (the ratio of the domestic price indices to the foreign price indices), and Russian exports. An increase in exports by 24% is caused by a real depreciation by 10%. Furthermore, a 10% growth in world income leads to a 33% rise in exports. Finally, exports drop by 14% whenever a 10% increase in domestic income occurs
Reference Key
algieri2004pricethe Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Algieri, Bernardina;
Journal the european journal of comparative economics
Year 2004
DOI
DOI not found
URL
http://eaces.liuc.it/18242979200402/182429792004010202.pdf
Keywords
environmental effects of industries and plants renewable energy sources environmental sciences business economics as a science public aspects of medicine finance economic theory. demography history (general) latin america. spanish america

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