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We estimate export and import demand elasticities of Greece between 1995 and 2018 by establishing cointegrating relationships between exports or imports, income and the real effective exchange rate. When accounting for structural breaks in the series, we observe that the long‐run income elasticities of exports and imports are elastic and decline throughout the sample period. The structural component of the Greek trade growth decreases across time. The cyclical counterpart rises and exhibits high variation. Changes in the real effective exchange rate have the opposite than predicted effects on trade in the postcrisis period for exports and throughout the sample for imports. [ABSTRACT FROM AUTHOR]

This article reviews several hypotheses that aim at explaining the development of German merchandise exports. Based on cointegration estimation techniques, we examine different determinants for their ability to explain German exports during the period 1992–2016. The estimation results indicate that, in addition to the traditional determinants (world demand and price competitiveness), other determinants, such as energy prices and the increasing fragmentation of production processes, are also crucial in explaining German exports.

The main purpose of the paper is to econometrically assess the impact of the Risky Energy Export Demand index on economic growth in Azerbaijan. The study calculates the dynamics of the demand for energy exports over the past 20 years as an indicator of energy security. The least squares method, the ADF test, and the cointegration test were used to determine the cause- and- effect relationship between the Risky Energy Export Demand and economic growth. The main conclusion of the study is that the impact of Azerbaijan's Risky Energy Export Demand index on economic growth is positive, but not strong. It is necessary to improve the diversification of energy export directions. [ABSTRACT FROM AUTHOR]

This article uses a nonlinear autoregressive distributed lag (NADRL) model introduced by Shin, Yu, and Greenwood-Nimmo (2014) to assess the role that the exchange rate plays in shaping European agri-food exports after the introduction of the Euro. Although the 10 countries of this study share the same currency (and thus a single nominal exchange rate with the US), cross-country discrepancies of exports’ reactions to exchange rate changes are evident. Moreover, I find that exchange rate changes influence exports asymmetrically in the long run. Euro appreciations are harmful to a lesser extent than Euro depreciations are beneficial for European agri-food exports. The magnitude of this effect is country-specific and varies considerably between individual exporting countries. Exported quantities are less affected by exchange rate fluctuations than export values, which is in line with local currency price stabilization strategies of the exporters. This finding is interpreted as a sign of an incomplete exchange rate pass-through due to strategic (asymmetric) markup adjustments by firms with heterogeneous productivity. Besides that, the outcomes suggest that nonprice competition might be in play in some cases. [ABSTRACT FROM PUBLISHER]

This investigation includes non-price factors such as patent applications and government and business characteristics into macroeconomic export demand functions because these determinants might also be relevant for international competitiveness. Results from panel cointegration as well as dynamic panel models for a sample of up to 27 countries from 1980-2011 show that conventional factors like the real effective exchange rate or foreign demand are important determinants of export demand. However, neglecting non-price factors such as patents which proxy innovativeness of a country or political stability which represents a solid business environment also affect export demand significantly positive. Thus, from a policy point of view, the focus on the exchange rate in order to remain competitive in international trade seems to be a too narrow perspective. Instead, politicians should also take care of these supply side factors if their focus is to increase a country's export competitiveness. [ABSTRACT FROM AUTHOR]

This article examines the effects of exchange rate variability on export demand for semiconductors, which is the largest sub-sector of electronics industry in Malaysia as reported by Malaysian Industrial Development Authority (MIDA, 2004). The empirical results, which are estimated based on the Johansen's multivariate cointegration tests and error-correction model, suggest that there is a unique long-run relationship among quantities of export, relative price, real foreign income and real exchange rate variability. The major finding of this article is that the variability of real exchange rate has some effect on semiconductor exports in both the long run and the short run. In the light of rapid advances in technology in the global markets for electronics products, the findings are useful to policy makers for the design and target of appropriate exchange rate and industrial policies to enhance the export competitiveness of semiconductor industry. [ABSTRACT FROM AUTHOR]

This paper investigates the aggregate export demand behaviour in Indonesia with annual data for the period 1963–2005. Both the Pesaran bounds testing and the Johansen cointegration tests results suggest that there exists a long-run relationship between real exports, world income and the relative export prices in Indonesia. The long-run income elasticity of the demand for Indonesia's exports is significantly greater than one and the long-run relative export price elasticity of the demand for its exports is significantly lower than one. The recursive and rolling regressions and the Hansen–Johansen stability test results suggest that the export demand function for Indonesia has undergone a significant structural change since the late-1990s, which is reflected in the decrease of the income elasticity, and an increase in the relative export price elasticity, of demand for Indonesian exports. These results explain the relatively slow growth of Indonesian exports since 2000 that has slowed the country's economic recovery from the financial crises of 1997–1998. [Copyright &y& Elsevier]