کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
996106 936287 2010 10 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
The relationship between oil price shocks and China’s macro-economy: An empirical analysis
موضوعات مرتبط
مهندسی و علوم پایه مهندسی انرژی مهندسی انرژی و فناوری های برق
پیش نمایش صفحه اول مقاله
The relationship between oil price shocks and China’s macro-economy: An empirical analysis
چکیده انگلیسی

This paper investigates the relationship between the world oil price and China’s macro-economy based on a monthly time series from 1995:1 to 2008:12, using the method of multivariate vector autoregression (VAR). The results show that the world oil price affects the economic growth and inflation of China significantly, and the impact is non-linear. On the other hand, China’s economic activity fails to affect the world oil price, which means that the world oil price is still exogenous with respect to China’s macro-economy in time series sense, and China has not yet had an oil pricing power in the world oil markets. The structural stability tests demonstrate that there is a structural break in the VAR model because of the reforms of China’s oil pricing mechanism, thus it is more appropriate to break the whole sample into different sub-samples for the estimation of the model.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Energy Policy - Volume 38, Issue 8, August 2010, Pages 4142–4151
نویسندگان
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