Sectoral Demand for Petroleum in Thailand
نویسنده
چکیده
This paper examines the short-run and long-run determinants of final oil consumption in seven major economic sectors in Thailand. Two different approaches are compared. The first approach uses dynamic panel data estimation techniques taking into account oil consumption of the whole economy in an aggregate manner. The second approach employs the ADL equilibrium correction framework to model oil demand in each economic sector separately. The dynamic panel data approach estimates appear consistent with economic theory. The coefficients have the correct signs and the magnitudes of long-run responses are larger than the short-run responses. The single sector model approach yields similar but richer results. Relaxing the identical slope assumption reveals interesting sector specific characteristics. Manuscript Click here to view linked References
منابع مشابه
Estimating the Elasticity of Electricity Demand in Iran: A Sectoral-Province Approach
E nergy is one of the main and essential factors in economic growth. Electricity as one of the most important resources of energy supply for economic sectors on one hand, and as an index of welfare, on the other hand, is one of the economic development benchmarks. The growth of GDP will increase the demand for energy resources, including electricity. Hence, policymakers should pay at...
متن کاملModelling Sectoral Fuel Demand in China in China
Recently Fisher-Vanden et al (2004) have used firm level data to estimate an energy intensity function for a large number of enterprises in China. This is the first study to use the regression approach to examining the relationships between fuel prices and fuel consumption in China. One of the major findings of the study is that firms are very responsive to relative fuel price changes. However,...
متن کاملComparative Analysis of Sectoral Multipliers of Input-Output Model and Social Accounting Matrix
The present study is to indicate that the comparison between sectoral production multipliers of an input-output (I/O) model and a social accounting matrix (SAM) framework is almost impossible without taking into account accounting balances and theoretical considerations. Theoretically, the I/O model provides the Leontief’s production function, on the basis of which sectoral output multiplier ca...
متن کاملImplications of Technology Management and Policy on the Development of a Sectoral Innovation System: Lessons Learned Through the Evolution of Thai Automotive Sector
This paper examines how a sectoral innovation system evolves over time and what the underlying factors derive from the development of automotive industry in Thailand which is presented as a case example. Since 1960's, the government policies and the development of liberal investment climate have been a push for the in°ux of large-scale foreign direct investments (FDI) in Thailand. Automotive in...
متن کاملSectoral Price Changes and Output Growth: Supply and Demand in General Equilibrium
Price changes and output growth, both at the aggregate and the sectoral level, appear to be negatively correlated. At a basic level, this suggests that sectoral “supply” shocks are more prevalent than sectoral “demand” shocks. However, it is not clear what these sectoral price-output correlations mean once one thinks in terms of general equilibrium. To help us understand the implication of thes...
متن کامل