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A cointegration analysis of seafood import demand in Caribbean countries

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  • Giap V. Nguyen
  • Curtis M. Jolly

Abstract

Cointegration analysis and error correction model are used to estimate seafood import demand for selected Caribbean countries. The results show that seafood import is price elastic. Exchange rate has a negative effect, while Gross Domestic Product (GDP) and tourism have positive effects on seafood imports. Import and domestic production do not have a short run causal relationship. The increase in Caribbean seafood imports is primarily due to decreasing import price and increasing domestic demand. The decline of domestic fisheries production has other causes than import competition. However, imports and domestic production have a negative long run equilibrium relationship. Tariff and production expansion policies both help producers, but tariff may reduce total economic surplus, while supply expansion can increase total economic surplus.

Suggested Citation

  • Giap V. Nguyen & Curtis M. Jolly, 2013. "A cointegration analysis of seafood import demand in Caribbean countries," Applied Economics, Taylor & Francis Journals, vol. 45(6), pages 803-815, February.
    • Handle: RePEc:taf:applec:45:y:2013:i:6:p:803-815
    DOI: 10.1080/00036846.2011.613771
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    Cited by:

    1. Ruth Eegunjobi & Nicholas Ngepah, 2022. "Dynamic Relationships between Seafood Exports, Exchange Rate and Industrial Upgrading," Sustainability, MDPI, vol. 14(13), pages 1-16, June.
    2. Forgenie, David & Khoiriyah, Nikmatul, 2023. "Analyzing Food Import Demand in Indonesia: An ARDL Bounds Testing Approach," International Journal of Food and Agricultural Economics (IJFAEC), Alanya Alaaddin Keykubat University, Department of Economics and Finance, vol. 11(1), January.

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