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- Title
Foreign Trade Behavior in a Small Open Economy (Belgium 1970-1980).
- Authors
Culem, Claudy G.
- Abstract
Abstract Unlike imports, an infinite price elasticity of supply is not a realistic assumption for exports, especially in the short run and for a small country. This is why a simultaneous approach is developed to appraise the export behaviour of the Belgian manufacturing industry during the 1970s; both a supply and demand curve are specified and estimated simultaneously in view of the two-way relationship between price and quantity. The estimates are used to assess the stability of foreign trade, the pricing policy of exporters and the evolution of their international market shares.
- Subjects
BELGIUM; INTERNATIONAL trade; MANUFACTURED products; SUPPLY &; demand; DEMAND function; ECONOMICS
- Publication
Scandinavian Journal of Economics, 1987, Vol 89, Issue 1, p55
- ISSN
0347-0520
- Publication type
Article
- DOI
10.2307/3440484