Pakistan's Import Demand Soars with Income Growth, Prices Plummet.
The article analyzes Pakistan's import demand from 1971 to 2007 using different cointegration techniques. The study finds a long-term relationship between imports, prices, and national income. The income elasticity in the long run is positive and greater than one, while in the short run, it is positive but less than one. Price elasticity is negative in both the long and short run, and less than one.