Oil price and economic growth: an improved asymmetric co-integration approach
by Jian Chai; Ying Yang; Limin Xing
International Journal of Global Energy Issues (IJGEI), Vol. 38, No. 4/5/6, 2015

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.

Online publication date: Sat, 20-Jun-2015

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Global Energy Issues (IJGEI):
Login with your Inderscience username and password:

    Username:        Password:         

Forgotten your password?


Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com