A cost function analysis of import demand and growth in South Africa

• 成果类型: Article
• 署名作者: Truett, LJ; Truett, DB
• 署名单位: University of Texas System; University of Texas at San Antonio
• 刊物名称: JOURNAL OF DEVELOPMENT ECONOMICS
• ISSN/ISSBN: 0304-3878
• DOI: 10.1016/S0304-3878(02)00104-9
• 发表日期: 2003
• 页码: 425-442
• 关键词: South Africa; Import demand; foreign trade; cost function

摘要

This study investigates the substitutability relationships among capital, labor, and imported inputs for South Africa, utilizing the estimates obtained from an aggregate cost function. Our results are consistent with the hypothesis that capital is a substitute for both domestic labor and imports, but that labor and imports are complementary inputs. This latter result suggests that relaxing South African trade restrictions may have a positive impact, in both the long and the short run, on the demand for domestic labor. Other results suggest that the reduction of market impediments may also positively impact the production of investment goods and economic growth. (C) 2003 Elsevier Science B.V. All rights reserved.