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 Periodical article |
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| Title: | Estimating Import Demand for Nigeria: Is Adaptive Expectation Methodology Relevant? |
| Author: | Ogbu, Osita M. |
| Year: | 1994 |
| Periodical: | Eastern Africa Economic Review |
| Volume: | 10 |
| Issue: | 1 |
| Pages: | 1-10 |
| Language: | English |
| Geographic term: | Nigeria |
| Subjects: | trade policy imports Economics and Trade |
| Abstract: | Import demand elasticities are critical in understanding and predicting import response to policy reforms. An examination of Nigeria's past import policies and patterns reveals some ad hoc adjustments of imports to both domestic and foreign factors. Specifically, historical evidence suggests that there is no systematic policy governing imports and that the expectation formation of importers seems adaptive and their adjustment slow. The author extends the literature on import demand functions for Nigeria by estimating an adaptive expectation variant of the import demand model and comparing it with a modified traditional functional form. Bibliogr., notes. |