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The Economic Effects of North Sea Oil on the Manufacturing Sector

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  • Bjornland, Hilde Christiane

Abstract

This paper analyzes the economic effects of the oil and gas sector (energy booms) on manufacturing output in two energy producing countries: Norway and the United Kingdom. In particular, the author investigates whether there is evidence of a 'Dutch disease,' that is whether energy booms have had adverse effects on manufactures. In addition to energy booms, three other types of structural disturbances are identified; demand, supply, and oil price shocks. The different disturbances are identified by imposing dynamic restrictions on a vector autoregressive model. Overall, there is only weak evidence of a Dutch disease in the United Kingdom, whereas manufacturing output in Norway has actually benefited from energy discoveries and higher oil prices. Copyright 1998 by Scottish Economic Society.

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Bibliographic Info

Article provided by Scottish Economic Society in its journal Scottish Journal of Political Economy.

Volume (Year): 45 (1998)
Issue (Month): 5 (November)
Pages: 553-85

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Handle: RePEc:bla:scotjp:v:45:y:1998:i:5:p:553-85

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Cited by:
  1. Kablan, Sandrine & Loening, Josef, 2012. "Is Chad affected by Dutch or Nigerian disease?," MPRA Paper 39799, University Library of Munich, Germany, revised 02 Jul 2012.
  2. Manfred Wiebelt & Rainer Schweickert & Clemens Breisinger & Marcus Böhme, 2011. "Oil revenues for public investment in Africa: targeting urban or rural areas?," Review of World Economics (Weltwirtschaftliches Archiv), Springer, Springer, vol. 147(4), pages 745-770, November.
  3. Bjørnland, Hilde C. & Hungnes, Håvard, 2003. "Fundamental determinants of the long run real exchange rate: The case of Norway," Memorandum, Oslo University, Department of Economics 23/2002, Oslo University, Department of Economics.
  4. Kenneth W Clements & Yihui Lan & John Roberts, 2007. "Exchange-Rate Economics for the Resources Sector," Economics Discussion / Working Papers, The University of Western Australia, Department of Economics 07-13, The University of Western Australia, Department of Economics.
  5. Guidi, Francesco, 2009. "The economic effects of oil prices shocks on the UK manufacturing and services sector," MPRA Paper 16171, University Library of Munich, Germany.
  6. Erling Røed Larsen, 2004. "Escaping the Resource Curse and the Dutch Disease? When and Why Norway Caught up with and Forged ahead of Its Neighbors," Discussion Papers, Research Department of Statistics Norway 377, Research Department of Statistics Norway.
  7. Erling Røed Larsen, 2003. "Are Rich Countries Immune to the Resource Curse? Evidence from Norway's Management of Its Oil Riches," Discussion Papers, Research Department of Statistics Norway 362, Research Department of Statistics Norway.
  8. Mahmud, Hassan, 2009. "Oil Price Shocks and Monetary Policy Aggregates in Nigeria: A Structural VAR Approach," MPRA Paper 25908, University Library of Munich, Germany.
  9. Jiménez-Rodríguez, Rebeca & Sánchez, Marcelo, 2004. "Oil price shocks and real GDP growth: empirical evidence for some OECD countries," Working Paper Series, European Central Bank 0362, European Central Bank.
  10. Hahn, Elke, 2003. "Pass-through of external shocks to euro area inflation," Working Paper Series, European Central Bank 0243, European Central Bank.

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