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Oil prices and competitiveness: time series evidence from six oil‐producing countries

Author

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  • Mohammad R. Jahan‐Parvar
  • Hassan Mohammadi

Abstract

Purpose - The purpose of this paper is to study the potential loss of competitiveness due to higher oil prices through the monetary channel in a group of six oil producing countries. Design/methodology/approach - A dynamic time series methodology, Dynamic Simultaneous Equations, is applied to Vector Autoregressive Moving Average model with exogenous variables. Findings - Mixed evidence was found of loss of competitiveness due to high oil prices in the sample. Practical implications - Findings are useful both for academic researchers in international finance or development economics. Policy makers will find the results useful for implementing stabilization or neutralization policies. Originality/value - The empirical work extends earlier research in several directions including extension to six oil‐producing countries, use of data over the flexible exchange rate period, and a more suitable technique, which estimates the model in a dynamic setting.

Suggested Citation

  • Mohammad R. Jahan‐Parvar & Hassan Mohammadi, 2009. "Oil prices and competitiveness: time series evidence from six oil‐producing countries," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 36(1), pages 98-118, January.
    • Handle: RePEc:eme:jespps:v:36:y:2009:i:1:p:98-118
    DOI: 10.1108/01443580910923821
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    Citations

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    Cited by:

    1. Ari-Matti Näätänen, 2015. "The Impact of Economic Globalization on the Employment Policies in 19 Western Democracies from 1985 to 2010. Limited Change or Radical Shift towards Workfare?," Social Sciences, MDPI, vol. 4(3), pages 1-18, September.
    2. Mohammad R. Jahan-Parvar (bio) & Hassan Mohammadi (bio), 2011. "Oil Prices and Real Exchange Rates in Oil-Exporting Countries: A Bounds Testing Approach," Journal of Developing Areas, Tennessee State University, College of Business, vol. 45(1), pages 313-322, July-Dece.
    3. Muhammad Zia-Ur Rehman & Zahid Bashir & Asia Baig, 2018. "Economic Turmoil - Oil Prices and the Middle East Crisis," Global Economics Review, Humanity Only, vol. 3(1), pages 71-80, June.
    4. repec:spr:jecfin:v:36:y:2012:i:3:p:766-779 is not listed on IDEAS
    5. Manfred Wiebelt & Rainer Schweickert & Clemens Breisinger & Marcus Böhme, 2011. "Oil revenues for public investment in Africa: targeting urban or rural areas?," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 147(4), pages 745-770, November.
    6. Mohammadi, Hassan & Su, Lixian, 2010. "International evidence on crude oil price dynamics: Applications of ARIMA-GARCH models," Energy Economics, Elsevier, vol. 32(5), pages 1001-1008, September.
    7. Ioannis ANTONIADIS, 2017. "Exploring The Linkage Between Oil And Gas Sector And Competitiveness: A Panel Data Analysis For The Countries Of The Black Sea Region," Scientific Bulletin - Economic Sciences, University of Pitesti, vol. 16(1), pages 34-44.
    8. Khiabani, Nasser, 2010. "How Important are Oil and Money Shocks in Explaining Housing Market Fluctuations in an Oil-exporting Country?: Evidence from Iran," MPRA Paper 34041, University Library of Munich, Germany, revised 01 Mar 2011.
    9. Michael Plante, 2008. "Oil Price Shocks and Exchange Rate Management: The Implications of Consumer Durables for the Small Open Economy," CAEPR Working Papers 2008-007, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.

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