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What deteriorates India’s current account balance: crude oil imports or gold imports?

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  • Manoranjan Sahoo
  • Hrushikesh Mallick
  • Mantu Kumar Mahalik

Abstract

We examine the impact of crude oil imports and gold imports on India’s current account balance (CAB) using linear cointegration techniques for the period 1980–2017. We find strong evidence in support of a positive and significant impact of crude oil imports and a negative and significant impact of gold imports on India’s CAB. It also reveals that while rising crude oil price deteriorates India’s CAB, rising gold price improves it in the short run.

Suggested Citation

  • Manoranjan Sahoo & Hrushikesh Mallick & Mantu Kumar Mahalik, 2020. "What deteriorates India’s current account balance: crude oil imports or gold imports?," Applied Economics Letters, Taylor & Francis Journals, vol. 27(13), pages 1107-1111, June.
    • Handle: RePEc:taf:apeclt:v:27:y:2020:i:13:p:1107-1111
    DOI: 10.1080/13504851.2019.1673294
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    Cited by:

    1. Chaudhry, Sajid M. & Shafiullah, Muhammad, 2021. "Does culture affect energy poverty? Evidence from a cross-country analysis," Energy Economics, Elsevier, vol. 102(C).
    2. Köse Nezir & Ünal Emre, 2024. "The Roles of the Terms of Trade and the Real Exchange Rate in the Current Account Balance," Economics - The Open-Access, Open-Assessment Journal, De Gruyter, vol. 18(1), pages 1-24.
    3. Sahoo, Manoranjan & Nayak, Pragyan Parimita & Hanhaga, Manindra & Swain, Kiranbala & Mallick, Rajat Kumar, 2023. "Exploring the asymmetric effect of remittance inflows on gold import demand: Evidence from a large gold-consuming and remittance-receiving country," Resources Policy, Elsevier, vol. 85(PB).

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