Ocena funkcije uvoza v panogah jugoslovanske industrije
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Abstract
This article considers the results of estimations of the import function for branches of Yugoslav industry (1970-1986).
With the help of multiple regression, the estimations have been successful in 26 of the 31 branches of the industry taken into consideration. Variations of material imports were tested in comparison to variations of the branches' GNP and with variations of the real rate of exchange. The estimated equations have shown that the response of importers of Yugoslav industry regarding the rate of exchange policy was rather logical in most cases. Although the National Curency *Dinar( was overestimated during a substantial part of the observed period, the importers seemed to have adopted such a policy and have reacted with their import decisions in accordance to variations of the real rate of exchange.
The relations between parameters of GNP and the real rate of exchange were also typical enough to enable a division of the branches into three groups regarding the elasticity of their import demand and also according to logical expectations.
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