| Keywords [eng] |
Keywords: Lithuania‘s exports of goods and services, Exports of goods of Lithuanian origin, Re-exports, Supply, Demand, Armington model, Almost Ideal Demand System (AIDS) model. Raktiniai žodžiai: Lietuvos prekių ir paslaugų eksportas, Lietuviškos kilmės prekių eksportas, Reeksportas, Pasiūla, Paklausa, Armington modelis, Beveik idealios paklauso (AIDS) modelis. |
| Abstract [eng] |
In the modern global economic system, the prosperity of each countries economy is directly related with foreign trade. The export of country is useful at macroeconomic and microeconomic levels. The main aim of this thesis is to identify the relationship of the supply and demand factors for Lithuanian exports of goods and services. Using the theoretical foreign trade models: Armington and Almost Ideal Demand System models are estimated direct, inverse and hybrid, supply and demand driven models. To test the assumptions of models are using Ljung-Box test of autocorrelation, Breusch-Pagan test for heteroskedasticity and Shapiro-Wilk test of normality. Lithuanian export prices and volumes in short-run are explained by demand and the long--run by supply components. Exported firms are price takers in short-term, but in medium/long-term prices depends on sector marginal costs and potential output. In the thesis, we also examine the relationship between the main export production price and quantity. The main agricultural products - cereals and major mining production - mineral products are highly responsive to price changes. |
