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Devaluation and the trade balance in India: stationarity and cointegration

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A study of devaluation and the trade balance in India corrects the data for nonstationarity. Previous empirical tests have used non-stationary data. The trade balance in India is not cointegrated with a number of variables, including the exchange rate. Absorption, elasticity, and monetary models are compared, and the monetary model performs better. There has been no J-curve in India, and devaluations have had no significant long-run effect on the trade balance.

Document Type: Research Article


Publication date: 1996-04-01

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