The J-curve : evidence from Fiji

Narayan, Paresh Kumar and Narayan, Seema 2004, The J-curve : evidence from Fiji, International review of applied economics, vol. 18, no. 3, pp. 369-380, doi: 10.1080/0269217042000227088.

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Title The J-curve : evidence from Fiji
Author(s) Narayan, Paresh KumarORCID iD for Narayan, Paresh Kumar
Narayan, Seema
Journal name International review of applied economics
Volume number 18
Issue number 3
Start page 369
End page 380
Publisher Routledge
Place of publication London, England
Publication date 2004-07
ISSN 0269-2171
Summary This article provides new evidence on both long run and short-run determinants of trade balance for Fiji and investigates evidence of J-curve adjustment behaviour in the aftermath of a devaluation. We adopt a partial reduced form model that models the real trade balance directly as a function of the real exchange rate and real domestic and foreign incomes. Cointegration analysis is based on a recently developed autoregressive distributed lag approach—shown to provide robust results in finite samples. The long run elasticities are also estimated using a dynamic ordinary least squares approach and the Fully Modified Ordinary Least Squares (FM-OLS) approach. Amongst our key results we find that there is a long-run relationship between trade balance and its determinants. There is evidence of the J-curve pattern; growth in domestic income affects Fiji's trade balance adversely while foreign income improves it.
Language eng
DOI 10.1080/0269217042000227088
Field of Research 140212 Macroeconomics (incl Monetary and Fiscal Theory)
HERDC Research category C1.1 Refereed article in a scholarly journal
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