A cost function analysis of import demand and growth in South Africa |
| |
Authors: | Lila J. Truett Dale B. Truett |
| |
Affiliation: | Department of Economics, The University of Texas at San Antonio, 6900 North Loop 1604 West, San Antonio, TX 78249-0633, USA |
| |
Abstract: | 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. |
| |
Keywords: | South Africa Import demand Foreign trade Cost function |
本文献已被 ScienceDirect 等数据库收录! |
|