Estimation of direct and indirect impact of oil price on growth
نویسنده
چکیده
Using a new methodology, this paper measures the direct and indirect effects of oil prices on GDP growth of 12 economies. Because of the indirect effect, which is transmitted through a trade matrix, even the net oil exporters like Indonesia and Malaysia cannot escape the negative influence of high oil prices. 2001 Elsevier Science B.V. All rights reserved.
منابع مشابه
Impact of Direct and Indirect Oil Shocks on Iran's Energy-intensive industries stock returns (Appling Simultaneous Equation System on Panel Data)
Regarding the fact that each country might be a net oil seller or net buyer, and considering its large share in the whole economy, the price of this commodity as well as its volatility could affect all economies around the world. The impact of oil price volatility on the economy is seemed to be more dominant in Iran rather than any other developed or emerging economies, especially in recent ye...
متن کاملAsymmetric Impact of Oil Prices, Foreign Direct Investment and Economic Growth on Carbon Emissions in Iran: Evidence from the NARDL Approach
The amount of environmental pollution can be caused by several factors. These factors are not in the same position in terms of importance and impact, and not all of them can necessarily be seen together in one place or time. Therefore, the main purpose of this study is to investigate the asymmetric impact of oil prices, foreign direct investment and economic growth on carbon emissions in Iran d...
متن کاملAn Estimation of The Impact of Economic Sanctions and Oil Price Shocks on Iran-Russian Trade: Evidence from a Gravity- VEC Approach
Abstract This article is an empirical attempt to explore the relationship between sanctions (financial and non-financial), oil price shocks and Iran-Russian bilateral trade flows over the period 1991–2014. In contrast to earlier studies in which a gravity model has been estimated through a panel data approach, in this paper the authors apply a gravity model for only two countries and do the es...
متن کاملOil Price Shocks and Russia’s Economic Growth: The Impacts and Policies for Overcoming Them
Considering Russia’s rich and vast oil resources, this country is one of the world’s greatest producers and exporters of this nonrenewable energy resource, and like other petrostates, receives a major part of its national income in this way. The dependence of Russia’s budget on oil has raised the significance of world oil price fluctuations for this country. Since 1970s, the global oil market h...
متن کاملThe Impact of Oil and Gold Prices’ Shock on Tehran Stock Exchange: A Copula Approach
There are several researches that deal with the behavior of SEs and their relationships with different economical factors. These range from papers dealing with this subject through econometrical procedures to statistical methods known as copula. This article considers the impact of oil and gold price on Tehran Stock Exchange market (TSE). Oil and gold are two factors that are essential for the ...
متن کامل