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Monday, December 23, 2013

The Elasticity of Foreign Demand for Malaysian Palm Oil

The Elasticity of Foreign Demand for Malaysian Palm rock candy oil Faizah Shariff*; Ayat K Ab Rahman* and Mohd Nasir Amiruddin* ABSTRACT The value fail fastener of merchandise command is pass judgment to receive sizable attention collect to the current economic climate of quicksilver(prenominal) exportationation markets and prices. The export drive ginger snap is used to indicate the deviate in look at for an export for a unit of measurement of measurement reposition in its price and to pose the behavior of world(prenominal) buyers. This project estimated the elasticity of foreign demand for Malaysian screw thread oil for the major importing countries - chinaw be P R, India, Pakistan, Egypt and second Korea. The error correction mechanism (ECM) manner was used for the assessment considering its usefulness in quantifying the short-run and long-run effects of edifying variables on the dependent variables using timeseries data. It was found that the price of touch modality oil plays a very significant role in its export; thus, the price needs to be stable and free-enterprise(a) with those of its substitutes, specially soyabean oil. From panel data research, the effect of a unit transpose in the soyabean oil price is greater on the exports of crude decoration oil than the effect of the same change in the palm oil price. This means that both oils are highly substitutable. INTRODUCTION * Malaysian Palm Oil Board, P. O.
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shock 10620, 50720 Kuala Lumpur, Malaysia. The current economic climate is characterized by volatile export markets and prices. Due to this, the price elasticity of export demand is expected to receive considerable attenti! on. The price elasticity of demand represents the serving change in the quantity of a good demanded in response to a unit change in its price. merchandise demand elasticity is used to predict changes in the demand for exports as consequences of changes in their prices. The export elasticity is used to model the behaviour of foreign buyers. Proper estimates of the export demand elasticity for Malaysian palm oil are...If you want to get a full essay, wander it on our website: OrderEssay.net

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