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The demand for gasoline in South Africa: An empirical analysis using co-integration techniques

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  • Akinboade, Oludele A.
  • Ziramba, Emmanuel
  • Kumo, Wolassa L.

Abstract

Using the recently developed Autoregressive Distributed Lag (ARDL) bound testing approach to co-integration, suggested by Pesaran et al. (Pesaran, M.H., Shin, Y., Smith, R.J. Bounds Testing Approaches to the Analysis of Level Relationships. Journal of Applied Econometrics 2001; 16(3) 289-326), we empirically analyzed the long-run relationship among the variables in the aggregate gasoline demand function over the period 1978-2005. Our study confirms the existence of a co-integrating relationship. The estimated price and income elasticities of - 0.47 and 0.36 imply that gasoline demand in South Africa is price and income inelastic.

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Bibliographic Info

Article provided by Elsevier in its journal Energy Economics.

Volume (Year): 30 (2008)
Issue (Month): 6 (November)
Pages: 3222-3229

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Handle: RePEc:eee:eneeco:v:30:y:2008:i:6:p:3222-3229

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Web page: http://www.elsevier.com/locate/eneco

Related research

Keywords: Gasoline demand Bounds testing Co-integration;

References

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