首页 | 本学科首页   官方微博 | 高级检索  
     


Responses of Economic Activity to Global Oil Market Shocks: A Comparative Analysis of Major Net Oil‐Producing and ‐Consuming Countries
Authors:M‐Ali Sotoudeh  Andrew C. Worthington
Affiliation:1. Department of Accounting, Finance and Economics, Griffith University, Nathan, QLD, Australia;2. University of Sistan and Baluchestan, Zahedan, Iran
Abstract:We argue that four channels drive oil price shocks during 1986M5–2013M1, namely the oil supply, aggregate demand, oil‐specific demand and real exchange rates. Our findings are that oil price shocks driven by oil supply positively affect net oil‐consumer countries faster than net oil‐producer countries. Oil price shocks driven by aggregate demand are largely country‐specific. Oil shocks driven by other demands influence net oil‐producers faster than net oil‐consumers negatively, and persistently mostly among net oil‐producers. Other shocks have large negative effects on the industrial production of all countries, with responses appearing very quickly and persisting for at least a year.
Keywords:
设为首页 | 免责声明 | 关于勤云 | 加入收藏

Copyright©北京勤云科技发展有限公司  京ICP备09084417号