pder (version 1.0-1)

ForeignTrade: Foreign Trade of Developing Countries

Description

yearly observations of 31 countries from 1963 to 1986

number of observations : 744

number of time-series : 24

country : developing countries

JEL codes: O19, C51, F17

Chapter : 02, 06

Usage

data(ForeignTrade)

Format

A dataframe containing:

country

country name

year

year

exports

nominal exports deflated by the unit value of exports per capita

imports

nominal imports deflated by the unit value of exports per capita

resimp

official foreing reserves (in US dollars) divided by nominal imports (in US dollars)

gnp

real GNP per capita

pgnp

trend real GNP per capita calculated by fitting linear trend yit*=y0iexp(gi t), where y0i is the initial value of real gnp per capita for country i and gi is the ith country's average growth rate over 1964-1986

gnpw

real genp for USA per capita

pm

unit value of imports (in US dollars), 1980 = 100

px

unit value of exports (in US dollars), 1980 = 100

cpi

domestic CPI, 1980 = 100

pw

US producer's price index, 1980 = 100

exrate

exchange rate (price of US dollars in local currency), 1980 = 1

consump

domestic consumption per capita,

invest

domestic fixed gross investment per capita

income

domestic disposable income per capita

pop

population

reserves

official foreing reserves (in US dollars)

money

domestic money supply per capita

trend

trend dummy, 1964 = 1

pwcpi

log of us producer price index divided by domestic cpi

importspmpx

log of nominal imports divided by export prices

pmcpi

log of imports price divided by domestic cpi

pxpw

log of exports price divided by domestic cpi

References

Kinal, T. and K. Lahiri (1993) “On the Estimation of Simultaneous-equations Error-components Models with An Application to a Model of Developing Country Foreign Trade”, Journal of Applied Economics, 8, 81-92, 10.1002/jae.3950080107 .

Examples

# NOT RUN {
#### Example 2-4

## ------------------------------------------------------------------------
library("plm")
data("ForeignTrade", package = "pder")
FT <- pdata.frame(ForeignTrade)
summary(FT$gnp)
ercomp(imports ~ gnp, FT)
models <- c("within", "random", "pooling", "between")
sapply(models, function(x) coef(plm(imports ~ gnp, FT, model = x))["gnp"])


#### Example 6-2

## ------------------------------------------------------------------------
data("ForeignTrade", package = "pder")
w1 <- plm(imports~pmcpi + gnp + lag(imports) + lag(resimp)  |
          lag(consump) + lag(cpi) + lag(income) + lag(gnp) + pm +
          lag(invest) + lag(money) + gnpw + pw + lag(reserves) +
          lag(exports) + trend + pgnp + lag(px),
          ForeignTrade, model = "within")
r1 <- update(w1, model = "random", random.method = "nerlove", 
             random.dfcor = c(1, 1), inst.method = "baltagi")

## ------------------------------------------------------------------------
phtest(r1, w1)

## ------------------------------------------------------------------------
r1b <- plm(imports ~ pmcpi + gnp + lag(imports) + lag(resimp) |
            lag(consump) + lag(cpi) + lag(income) + lag(px) + 
            lag(reserves) + lag(exports) | lag(gnp) + pm + 
            lag(invest) + lag(money) + gnpw + pw  + trend + pgnp,
            ForeignTrade, model = "random", inst.method = "baltagi", 
            random.method = "nerlove", random.dfcor = c(1, 1))

phtest(w1, r1b)

## ------------------------------------------------------------------------
rbind(within = coef(w1), ec2sls = coef(r1b)[-1])

## ------------------------------------------------------------------------
elast <- sapply(list(w1, r1, r1b), 
                function(x) c(coef(x)["pmcpi"], 
                              coef(x)["pmcpi"] / (1 - coef(x)["lag(imports)"])))
dimnames(elast) <- list(c("ST", "LT"), c("w1", "r1", "r1b"))
elast

## ------------------------------------------------------------------------
rbind(within = coef(summary(w1))[, 2], 
      ec2sls = coef(summary(r1b))[-1, 2])

#### Example 6-4

## ------------------------------------------------------------------------
eqimp <- imports ~ pmcpi + gnp + lag(imports) + 
                lag(resimp) | lag(consump) + lag(cpi) + lag(income) + 
                lag(px) + lag(reserves) + lag(exports) | lag(gnp) + pm + 
                lag(invest) + lag(money) + gnpw + pw  + trend + pgnp
eqexp <- exports ~ pxpw + gnpw + lag(exports) |
                lag(gnp) + pw + lag(consump) + pm + lag(px) + lag(cpi) | 
                lag(money) + gnpw +  pgnp + pop + lag(invest) + 
                lag(income) + lag(reserves) + exrate
r12 <- plm(list(import.demand = eqimp,
                export.demand = eqexp),
           data = ForeignTrade, index = 31, model = "random", 
           inst.method = "baltagi", random.method = "nerlove",
           random.dfcor = c(1, 1))
summary(r12)

## ------------------------------------------------------------------------
rbind(ec2sls = coef(summary(r1b))[-1, 2],
      ec3sls = coef(summary(r12), "import.demand")[-1, 2])
# }