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A cost function analysis of import demand for Nigeria

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  • A. E. Akinlo

Abstract

The article uses a translog cost function to examine the substitution relations among capital, labour and imports. The results show that capital has a substitute relation with domestic labour and import. However, labour and import have complementary relationship. The implication of this finding is that liberalization policies, if pursued vigorously, could impart positively on the demand for labour. In addition, it suggests that economic growth could be enhanced through trade liberalization.

Suggested Citation

  • A. E. Akinlo, 2008. "A cost function analysis of import demand for Nigeria," Applied Economics, Taylor & Francis Journals, vol. 40(22), pages 2911-2920.
    • Handle: RePEc:taf:applec:v:40:y:2008:i:22:p:2911-2920
    DOI: 10.1080/00036840600993932
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    References listed on IDEAS

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    1. W. Erwin Diewert, 1986. "Export Supply and Import Demand Functions: A Production Theory Approach," NBER Working Papers 2011, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Ranjini L. Thaver & E. M. Ekanayake & Daniel R. Plante, 2012. "An Estimation Of The Impact Of Gear And Nepad On South Africa'S Disaggregated Import Demand Function With Nigeria," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 6(2), pages 69-79.
    2. Jeroen Hinloopen & Charles van Marrewijk, 2012. "Power laws and comparative advantage," Applied Economics, Taylor & Francis Journals, vol. 44(12), pages 1483-1507, April.

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