Oil price volatility and economic growth : evidence from advanced economies using more than a century’s data

dc.contributor.authorVan Eyden, Renee
dc.contributor.authorDifeto, Mamothoana
dc.contributor.authorGupta, Rangan
dc.contributor.authorWohar, Mark E.
dc.contributor.emailrenee.vaneyden@up.ac.zaen_ZA
dc.date.accessioned2018-11-26T06:04:09Z
dc.date.issued2019-01
dc.description.abstractThis paper uses a number of different panel data estimators, including fixed effects, bias-corrected least squares dummy variables (LSDVC), generalised methods of moments (GMM), feasible generalised least squares (FGLS), and random coefficients (RC) to analyse the impact of real oil price volatility on the growth in real GDP for 17 member countries of the Organisation for Economic Co-operation and Development (OECD), over a 144-year time period from 1870 to 2013. The main finding of the study is that oil price volatility has a negative and statistically significant impact on economic growth of the OECD countries in the sample. In addition, when allowing for slope heterogeneity, oil-producing countries are significantly negatively impacted by oil price uncertainty, most notably Norway and Canada.en_ZA
dc.description.departmentEconomicsen_ZA
dc.description.embargo2020-01-01
dc.description.librarianhj2018en_ZA
dc.description.urihttp://www.elsevier.com/locate/apenergyen_ZA
dc.identifier.citationVan Eyden, R., Difeto, M., Gupta, R. et al. 2019, 'Oil price volatility and economic growth : evidence from advanced economies using more than a century’s data', Applied Energy, vol. 233–234, pp. 612-621.en_ZA
dc.identifier.issn0306-2619 (print)
dc.identifier.issn1872-9118 (online)
dc.identifier.other10.1016/j.apenergy.2018.10.049
dc.identifier.urihttp://hdl.handle.net/2263/67311
dc.language.isoenen_ZA
dc.publisherElsevieren_ZA
dc.rights© 2018 Elsevier Ltd. All rights reserved. Notice : this is the author’s version of a work that was accepted for publication in Applied Energy. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. A definitive version was subsequently published in Applied Energy, vol. 233-234, pp. 612-621, 2019, doi : 10.1016/j.apenergy.2018.10.049.en_ZA
dc.subjectLeast squares dummy variables (LSDVC)en_ZA
dc.subjectGeneralised methods of moments (GMM)en_ZA
dc.subjectFeasible generalised least squares (FGLS)en_ZA
dc.subjectRandom coefficients (RC)en_ZA
dc.subjectOil price volatilityen_ZA
dc.subjectEconomic growthen_ZA
dc.subjectOECD countriesen_ZA
dc.subjectPanel dataen_ZA
dc.subjectOrganisation for Economic Co-operation and Development (OECD)en_ZA
dc.titleOil price volatility and economic growth : evidence from advanced economies using more than a century’s dataen_ZA
dc.typePostprint Articleen_ZA

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