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Oil price and economic growth: an improved asymmetric co-integration approach

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  • Jian Chai
  • Ying Yang
  • Limin Xing

Abstract

Asymmetric co-integration is used in this paper to analyse the asymmetry relationship between oil price and economic growth. In contrast with widely used asymmetric co-integration method currently, three-way decomposition model is applied in this paper to explore more precise long-term asymmetric relationship between oil price and economy. Our empirical analysis not only concerns the China economy, but also includes the USA and Japan. The empirical results show that the asymmetric co-integration relationship between oil price and GDP cannot be proved in the three countries. However, according to the long-term relationship study, GDP is mostly effected by historically maximum oil price, especially in China and Japan.

Suggested Citation

  • Jian Chai & Ying Yang & Limin Xing, 2015. "Oil price and economic growth: an improved asymmetric co-integration approach," International Journal of Global Energy Issues, Inderscience Enterprises Ltd, vol. 38(4/5/6), pages 278-285.
    • Handle: RePEc:ids:ijgeni:v:38:y:2015:i:4/5/6:p:278-285
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    Citations

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    Cited by:

    1. Mihail Nikolaevich Dudin & ?vgenia ?vgenevna Frolova & Petr Aleksandrovich Kucherenko & Vitaly Aleksandrovic Vernikov & Natalia Andreevna Voykova, 2016. "China in Innovative Development of Alternative Energy Advanced Industrial Technologies," International Journal of Energy Economics and Policy, Econjournals, vol. 6(3), pages 537-541.
    2. Mikhail Nikolaevich Dudin & Nikolai Vasil evich Lyasnikov & Vladimir Dmitrievich Sekerin & Anna Evgen evna Gorokhova & Tamara Petrovna Danko & Olga Anatol evna Bank, 2017. "Technological Changes as the Development Factor of the Global and Russian Energy Sector," International Journal of Energy Economics and Policy, Econjournals, vol. 7(1), pages 209-215.
    3. Ioannis Dokas & Georgios Oikonomou & Minas Panagiotidis & Eleftherios Spyromitros, 2023. "Macroeconomic and Uncertainty Shocks’ Effects on Energy Prices: A Comprehensive Literature Review," Energies, MDPI, vol. 16(3), pages 1-35, February.
    4. Mihail Nikolaevich Dudin & Nikolaj Vasilevich Lyasnikov & Vladimir Dmitriyevich Sekerin & Anna Evgenevna Gorohova & Vyacheslav Viktorovich Burlakov, 2016. "Provision of Energy Security at the National Level in the Context of the Global Gas Transportation Industry Development," International Journal of Energy Economics and Policy, Econjournals, vol. 6(2), pages 234-242.
    5. Mohamed Albaity & Hasan Mustafa, 2018. "International and Macroeconomic Determinants of Oil Price: Evidence from Gulf Cooperation Council Countries," International Journal of Energy Economics and Policy, Econjournals, vol. 8(1), pages 69-81.
    6. Asrori Asrori & Muhammad Ihlashul Amal & Atta Putra Harjanto, 2019. "Company Characteristics on the Corporate Social Reporting Index of Corporate Social and Environmental Disclosure in Indonesian Public Companies," International Journal of Energy Economics and Policy, Econjournals, vol. 9(5), pages 481-488.
    7. Haider Mahmood & Tarek Tawfik Yousef Alkhateeb & Maleeha Mohammed Zaaf Al-Qahtani & Zafrul Allam & Nawaz Ahmad & Maham Furqan, 2020. "Urbanization, Oil Price and Pollution in Saudi Arabia," International Journal of Energy Economics and Policy, Econjournals, vol. 10(2), pages 477-482.

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