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The impact of trade liberalization on import demand

journal contribution
posted on 2002-01-01, 00:00 authored by D Thomakos, Mehmet UlubasogluMehmet Ulubasoglu
In this paper, we empirically analyze the effects of trade reforms on import demand and derive their implications on economic development in Turkey, a country that underwent sudden and substantial trade liberalization in the mid-1980s. The tool for this analysis is the estimation of disaggregated import demand elasticities. The adoption of a more liberal trade regime as well as radical attempts to foster economic development makes the Turkish experience particularly interesting for analysis. Almost all of our elasticities are estimated to be significant, unlike those of most previous studies in the literature on other countries. We test for different elasticities over “closed” and “open” economy periods, and find that the effects of the trade reforms of the 1980s were significant for a number of industries that form the backbone of the Turkish economy. We also compare our results with elasticity estimates from past studies for developed countries.

History

Journal

Journal of economic and social research

Volume

4

Issue

1

Pagination

1 - 26

Publisher

Fatih University

Location

Istanbul, Turkey

ISSN

1302-1060

Language

eng

Publication classification

C1.1 Refereed article in a scholarly journal

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