Asymmetric impact of oil price on current account balance: Evidence from oil importing countries

被引：5

作者：

Chang, Lei ^{[1
]}

Mohsin, Muhammad ^{[2
]}

Gao, Zhennan ^{[3
]}

Taghizadeh-Hesary, Farhad ^{[4
,5
]}

机构：

[1] Peking Univ, Sch Econ, Beijing 100871, Peoples R China

[2] Jiangsu Univ, Sch Finance & Econ, Zhenjiang 212013, Peoples R China

[3] Cent Univ Finance & Econ, Business Sch, Beijing 100081, Peoples R China

[4] Tokai Univ, Sch Global Studies, Tokyo, Japan

[5] Tokai Univ, TOKAI Res Inst Environm & Sustainabil TRIES, Tokyo, Japan

来源：

ENERGY ECONOMICS | 2023年 / 123卷

基金：

日本学术振兴会;

关键词：

Oil price; Current account balance; Quantile-on-Quantile estimation; Oil importing countries; GREEN ECONOMIC-GROWTH; STOCK RETURNS; VOLATILITY; MARKET; SHOCKS; INDUSTRIES; STORAGE; DEMAND;

D O I：

10.1016/j.eneco.2023.106749

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This study investigates the asymmetric linkage between oil price and current account balance (CAB) in ten oilimporting emerging countries by employing a unique "Quantile-on-Quantile" methodology. The estimations reveal that the oil price is adversely related to CAB in selected economies at various quantiles of data distribution. The findings suggest that the impact of oil prices on CAB is asymmetric, with increases having a more significant negative effect than decreases having a positive effect. Furthermore, the effect of oil prices on CAB is more significant for net oil importers that have a higher dependency on oil imports. Finally, the findings highlight the need for policymakers in oil-importing countries to recognize the non-linear relationship between oil prices and CAB.

引用

页数：12

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