Long-run Income and Price Elasticities of Demand for Colombian Nontraditional Exports: a Multivariate Cointegration Framework

Publicado en

  • Applied Economics


  • A long run income and price elasticities of demand is estimated for Colombian nontraditional exports through a multivariate cointegration analysis. Based on the combination of cointegration and exogeneity concepts and the inclusion of the complete dynamic system, the paper shows the existence of a long-run relationship among nontraditional exports, relative price and foreign demand, and higher long-run elasticities than those provided by the long-run cointegration vector coefficients that are usually reported in the trade literature.

fecha de publicación

  • 2004

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