摘要：This paper adopts the bounds testing approach to test for the validity of the cointegration
or stationarity restriction embodied in five import demand model specifications for CIBS
during the period 1970-2007. It identifies long-run relationships in a subset of the five
models for each CIBS countries. We find that long-run income elasticities are much higher
compared to earlier studies and are higher than the short-run counterparts for CIBS. In
addition, contrary to the traditional wisdom, price elasticities are not significantly negative
for these countries
关键词：Keywords: Import Demand, ARDL, Bounds Test, Income Elasticities, Price Elasticities
