01800cas a2200253 a 4500 AALejournalIMF005349 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451870749 1018-5941 BD-DhAAL BD-DhAAL Billmeier, Andreas. Trade Elasticities in the Middle East and Central Asia : What is the Role of Oil? / Andreas Billmeier, Dalia Hakura. Washington, D.C. : International Monetary Fund, 2008. 1 online resource (33 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The analysis in this paper suggests that import and export volume elasticities are markedly lower in oil-exporting Middle East and Central Asian countries than in non-oil countries in the region. A key implication of this finding is that a real appreciation of the exchange rate in oil-exporting countries would achieve little in terms of expenditure switching: an appreciation does not boost imports and non-oil exports constitute only a small share of GDP and total trade in these countries. Therefore, while a real appreciation lowers the current account surplus of oil-exporting countries through valuation effects, the contribution to lowering global imbalances may be more limited. Mode of access: Internet Hakura, Dalia. IMF Working Papers; Working Paper ; No. 2008/216 Full text available on IMF http://elibrary.imf.org/view/journals/001/2008/216/001.2008.issue-216-en.xml IMF e-Library