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Volume :24 Issue : 94 1999      Add To Cart                                                                    Download

ANALYSIS OF AGGREGATE IMPORT DEMAND FUNCTION FOR KUWAIT

Auther : Dr. Naief Al-Mutairi

 

In this study, annual data for the period 1970 – 1995 is used to estimate the aggregate demand function for Kuwait. The results indicate that demand for imports is inelastic with respect to import prices both in the short run and long run indicating that the import prices have played a limited role in determining the demand for imports since the seventies. This is reflected by the estimates of the beta coefficients which show that the import prices is the least dominant factor after the lagged imports in explaining the variations in import demand. Import elasticity with respect to the price of domestically produced goods is fairly greater than one, both in the short run and long run suggesting that consumers tend to be more responsive to a change in the price of domestic goods than to an equal change in import prices.

Finally, imports demand is found to be unitary elastic with respect to real income indicating that demand for imports changes proportionally to a change in real income.

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