An Elasticity Approach to Forecast Dyadic Trade and Economic Interdependence
Abstract
Economic interdependence is defined as the relative proportion of a country's total trade with another country. To forecast economic interdependence in the 1985-1994 period, forecasts of dyadic trade must first be made. An elasticity approach is used to generate these forecasts. The income elasticity of imports for a particular country is defined as the ratio of the percent change in its imports divided by the percent change in its GNP. Import elasticities are important concepts of international economics and their use in forecasting economic interdependence is particularly useful since elasticities can yield future dyadic trade.
Document Details
- Document Type
- Technical Report
- Publication Date
- Aug 01, 1973
- Accession Number
- AD0767954
Entities
People
- Robert Franco