{"product_id":"9783642467721","title":"Imports and Growth in Highly Indebted Countries: An Empirical Study","description":"\u003ch1\u003eImports and Growth in Highly Indebted Countries: An Empirical Study\u003c\/h1\u003e \u003ch2\u003eHentschel, Jesko\u003c\/h2\u003e \u003cp\u003eA real imports of capital and intermediate goods declined\nsharply for highlyindebted countries in the 1980s, these\neconomies were faced with the need tosubstitute previously\nimported factors of production with domestic capital  and\nlabor. The study empirically analyzes the degree of                     import\ndependence of twelve developing countries. Estimates of              the\nshort-run elasticity of substitution characterize both\nimported     capital and intermediate goods to behave like\ncomplements in the production process in the developing\ncountries. Long-run substitution elasticites      differ\nconsiderably among the group of economies, especially                for\nimported machinery and equipment. The results indicate                  that\ninward-oriented strategies have not achieved the aim of\nreducing   the import dependence of the developing economies.\nIn order to visualize theimplications of the differing\ndegree of import dependence, a partial        equilibrium\neconometric model is used to analyze the reaction of            the\ntrade account on external shocks and domestic policies in\nColumbia  and Ecuador. Simulations show that the dependence\non imported production    means can transform an \"adjustment\nwith growth\" of the external account intoan \"adjustment or\ngrowth\" controversy.\u003c\/p\u003e \u003ch3\u003eDetails\u003c\/h3\u003e \u003cp\u003ePublished by: Springer\u003c\/p\u003e \u003cp\u003ePublication Date: 2012-03-08\u003c\/p\u003e \u003cp\u003eFormat: Paperback\u003c\/p\u003e \u003cp\u003eISBN-13: 9783642467721\u003c\/p\u003e \u003cp\u003eDOI: 10.1007\/978-3-642-46770-7\u003c\/p\u003e \u003cp\u003eDimensions: 244cm x170cm\u003c\/p\u003e \u003cp\u003ePages: 209\u003c\/p\u003e ","brand":"Springer","offers":[{"title":"Default Title","offer_id":44398752989324,"sku":"9783642467721","price":99.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0710\/9545\/1788\/files\/9783642467721.jpg?v=1755443166","url":"https:\/\/fh90cf-fv.myshopify.com\/products\/9783642467721","provider":"Late Knight Books and Services, LLC","version":"1.0","type":"link"}