A comparative analysis of the impact of oil prices on oil-rich emerging economies in the Pacific Rim

被引：18

作者：

Kuboniwa, Masaaki ^{[1
]}

机构：

[1] Hitotsubashi Univ, Inst Econ Res, Tokyo 1868603, Japan

来源：

JOURNAL OF COMPARATIVE ECONOMICS | 2014年 / 42卷 / 02期

基金：

日本学术振兴会;

关键词：

Growth; Oil price; Terms of trade; Energy efficiency; Pacific Rim; GROWTH; CONSUMPTION; CAUSALITY;

D O I：

10.1016/j.jce.2014.03.007

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper examines the relationship between raw materials prices and economic growth through two channels, the terms of trade (TOT) and energy efficiency (EF), in three emerging Pacific Rim economies, Russia, Indonesia and Malaysia. We demonstrate positive relationships between changes in output and oil prices and between changes in GDP and energy efficiency (EF). We examine the impact of oil prices on output growth through the ToT and EF channels. The effect of oil prices on ToT in Russia and Malaysia is positive but negative in Indonesia. Oil prices have a positive effect on EF in all three countries. (C) 2014 Association for Comparative Economic Studies Published by Elsevier Inc. All rights reserved.

引用

页码：328 / 339

页数：12

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