IDEAS home Printed from https://ideas.repec.org/a/mes/emfitr/v57y2021i11p3153-3166.html
   My bibliography  Save this article

The Dynamic Links between Oil Prices and Economic Growth: Recent Evidence from Nonlinear Cointegration Analysis for the ASEAN-5 Countries

Author

Listed:
  • Khalid M. Kisswani

Abstract

This article investigates the asymmetric relationship between real oil prices and real GDP for selected ASEAN countries (ASEAN-5), using the nonlinear autoregressive distributed lag (NARDL) model. The sample data consist of annual frequencies from 1970 to 2015. Furthermore, the article pays attention to structural breaks in testing the asymmetric nexus. The empirical findings demonstrate long-run asymmetry for the ASEAN-5 countries, however, short-run asymmetry is found for Malaysia and Singapore only. Moreover, the empirical findings show that the increase in oil prices leads to positive effect on GDP for all countries (highly significant for all countries except for the Philippines), yet, such outcome does not go in line with the vast majority of the studies conducted. As for the direction of causality between oil prices and GDP, the article finds mixed results by using the Toda and Yamamoto noncausality test.

Suggested Citation

  • Khalid M. Kisswani, 2021. "The Dynamic Links between Oil Prices and Economic Growth: Recent Evidence from Nonlinear Cointegration Analysis for the ASEAN-5 Countries," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 57(11), pages 3153-3166, September.
    • Handle: RePEc:mes:emfitr:v:57:y:2021:i:11:p:3153-3166
    DOI: 10.1080/1540496X.2019.1677463
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/1540496X.2019.1677463
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/1540496X.2019.1677463?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Aharon, David Y. & Azman Aziz, Mukhriz Izraf & Kallir, Ido, 2023. "Oil price shocks and inflation: A cross-national examination in the ASEAN5+3 countries," Resources Policy, Elsevier, vol. 82(C).
    2. Wei Jiang & Yadong Wang, 2023. "Asymmetric Effects of Human Health Capital on Economic Growth in China: An Empirical Investigation Based on the NARDL Model," Sustainability, MDPI, vol. 15(6), pages 1-16, March.
    3. Muntasir Murshed & Haider Mahmood & Tarek Tawfik Yousef Alkhateeb & Mohga Bassim, 2020. "The Impacts of Energy Consumption, Energy Prices and Energy Import-Dependency on Gross and Sectoral Value-Added in Sri Lanka," Energies, MDPI, vol. 13(24), pages 1-22, December.
    4. Pham Thi, Thuy Dung & Do, Hai Dung & Paramaiah, Ch & Duong, Nam Tien & Pham, Van Kien & Shamansurova, Zilola, 2023. "Sustainable economic performance and natural resource price volatility in the post-covid-pandemic: Evidence using GARCH models in Chinese context," Resources Policy, Elsevier, vol. 86(PA).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mes:emfitr:v:57:y:2021:i:11:p:3153-3166. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/MREE20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.