The Impact of International Oil Price Fluctuation on China's Economy

The Dynamics of Oil Prices in the Nigerian Construction and Economic Growth

“…This implies that the series are integrated at the same order of I (1). It further implies that only differenced data should be used in the model.…”

“…A wide range of empirical and theoretical studies have been done on the influence of the oil price change on the economic growth both in the developed and developing countries including Nigeria [1,11,14,27,[29][30][31]33,34,[36][37][38][41][42][43][44][45][46][47][48][49][50]. However, the results of these studies are mixed and conflicting.…”

“…However, the results of these studies are mixed and conflicting. While some claim that oil price fluctuation exerts adverse impact on macroeconomic variables [1,[7][8][9][10][11]; others found that crude oil price fluctuation exert positive influence on the economic growth [16,37,48,50]. Still, some others argue that the effects are less disruptive and also not as significant as thought since oil is becoming less relevant in the economic equation of many countries in the recent time [19,36,[51][52][53][54][55], while others found that the effect is asymmetric and there is no clear effect of oil price changes on the economic growth [41,[56][57][58][59] since the impact of oil price fluctuations is considered to be different for oil importing and exporting countries [48].…”

“…Over the years, research interests on the relationship between oil price fluctuation and economic growth across developed and developing countries have continued to grow. Qianqian [1] recognized the importance of oil as a lifeline in the economic development of every nation and it's price fluctuations as it affects every field of the economy. Although this relationship has been greatly discussed theoretically and empirically, González and Nabiyev [2] argue that how reliable oil price is as an economic variable predicting fluctuation in GDP growth remains controversial.…”

Analisis Dampak Guncangan Harga Minyak Mentah Terhadap Makroekonomi Indonesia: Aplikasi Vector Error Correction Mechanism

“…Namun harga tersebut harus mengalami peningkatan tajam hingga mecapai US$128,14 pada bulan Maret 2012. Qianqian (2011) menyatakan bahwa peningkatan harga minyak akan berdampak pada peningkatan harga faktor-faktor produksi sehingga biaya produksi yang harus dikeluarkan oleh perusahaan meningkat. Hal tersebut menyebabkan perusahaan harus meningkatkan harga jual dari produknya untuk tetap menjaga keuntungaan yang pada akhirnya meningkatkan harga barang dan jasa atau inflasi yang dapat dilihat melalui jumlah uang beredar.…”