Growth and oil price: A study of causal relationships in small Pacific Island countries

Jayaraman, Tiruvalangadu K.; Choong, Chee‐Keong

doi:10.1016/j.enpol.2009.01.025

Cited by 46 publications

(24 citation statements)

References 45 publications

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“…In contrast, negative shocks in oil prices have an adverse impact on industrial production. Jayaraman and Choong (2009) attempted to investigate the association between oil price and economic growth in oil-importing economies. Their empirical data reveal that oil price has a negative and significant effect on economic growth and the unidirectional causality exists running from oil price to economic growth.…”

Section: Oil Price and Economic Growthmentioning

confidence: 99%

Dynamics of electricity consumption, oil price and economic growth: Global perspective

et al. 2017

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Abstract:This study uses the data from 157 countries from 1960 to 2014 to analyze the relationship between economic growth, electricity consumption, oil prices, capital, and labor. The economic growth of developing countries with industrial infrastructure has a more significant association with electricity consumption than oil prices. We use oil prices and electricity consumption jointly to study highly predictive observations for economic growth. The data are categorized by income, OECD and regional levels. The panel cointegration, long-run parameter estimation, and Pool Mean Group testsare used to analyze the cointegration and short-run and long-run relationships between the variables. The empirical results indicate the presence of cointegration between the variables. The presence of feedback effects between electricity consumption and economic growth, oil prices and economic growth is valid. These findings confirm that inspite of the oil prices, developing countries rely heavily on electricity consumption for economic growth. In the short run, growth and feedback effects suggest that more vigorous electricity policies should be implemented to attain sustainable economic growth for the long-term.

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Section: Oil Price and Economic Growthmentioning

confidence: 99%

Dynamics of electricity consumption, oil price and economic growth: Global perspective

et al. 2017

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“…For the net oil importer, an increase in oil prices may have a negative impact on its exports as it increases production costs. However, the impact can also be positive if the potential et al development given by Huang [2], many empirical output level and actual output level have not reached a threshold level at which oil prices can negatively impact output (Jayaraman and Choong [10]). On the other hand, for the net oil exporter, the increase in COP may contribute to improvement in terms of trade and increases in export earnings.…”

Section: Introductionmentioning

confidence: 99%

Oil Price Fluctuations and Firm Performance in an Emerging Market: Assessing Volatility and Asymmetric Effect

Janor¹,

Abdul-Rahman²,

Housseinidoust³

et al. 2013

JOEBM

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Abstract-This study examines the impact of oil price volatility on firm performance in the context of an emerging market, Malaysia. The effect of crude oil price on the performance is examined for the period of January 1986 to December 2011 using GARCH and EGARCH models reflecting the evaluation on volatility and asymmetric effects. Results indicate the significant effect of oil price volatility on stock market volatility and also the asymmetric effects. For policy makers, the findings help to clarify the dilemma of whether the government should subsidize or totally depend on global oil prices in ensuring the sustainability and competitiveness of Malaysian companies. In addition, the results may assist businessmen in managing cost structures in the event of rising oil prices in relation to both short term and long term planning and provide investors with a better picture of the exposure to oil price risks when investing in Malaysian companies.

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“…Complementarily, a large body of literature suggests that crude oil prices have a statistically significant effect on economic activity (Adrangi, et al, 2001;Berument, et al, 2010;Brown & Yücel, 2001;Costantini & Martini, 2010;Fofana, et al, 2009;Hamilton, 2009aHamilton, , 2009bHanabusa, 2009;Hsing, 2007;Huang, et al, 1996;Jayaraman & Choong, 2009;Jiao & Ma, 2006;Jones, et al, 2004b;Odusami, 2010;Oladosu, 2009;Papapetrou, 2001;Rafiq, et al, 2009;Reynolds & Kolodziej, 2007;Zagaglia, 2010). Uri (1996) indicated the effect of changes in the price of crude oil on agricultural employment in the USA between 1947 and 1995 using Granger Causality.…”

Section: Literaturementioning

confidence: 99%

Crises, crude oil and BRIC stock markets

Natanelov

Dora

Gellynck

et al. 2013

IJBEM

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This study complements the debate on the linkages between crude oil and BRIC stock markets. The usage of the most recent data with daily frequency within a period of two economic crises makes this study very timely and its results valuable both for researchers and investors. The main focus of this study is the impact of crude oil price on dissimilar BRIC economies. The main results indicate linear cointegration of Chinese and Brazilian stock markets with crude oil prices, whereas in case of India and Russia threshold cointegration is present. The study also shows that India's BSE30 precedes crude oil futures, whereas China, Russia and Brazil have a bi-directional causality between the stock markets and crude oil prices.

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Growth and oil price: A study of causal relationships in small Pacific Island countries

Cited by 46 publications

References 45 publications

Dynamics of electricity consumption, oil price and economic growth: Global perspective

Dynamics of electricity consumption, oil price and economic growth: Global perspective

Oil Price Fluctuations and Firm Performance in an Emerging Market: Assessing Volatility and Asymmetric Effect

Crises, crude oil and BRIC stock markets

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