Manufacturing Sector Resiliency to Energy Booms: Empirical Evidence from Norway, the Netherlands, and the United Kingdom
AbstractThe 'Dutch disease'--the prediction that an energy boom will cause a contraction of the manufacturing sector--is investigated for the United Kingdom, the Netherlands, and Norway. Cointegration and vector error correction modeling statistical analyses do not provide much support for the hypothesis, either for the short- or longer-term horizons. Only for Norway do impulse response functions indicate a short-run adverse effect on manufacturing arising from the energy boom. Fluctuations in world energy prices and domestic monetary conditions apparently have played much more important roles than North Sea oil in influencing the evolution of manufacturing output in the United Kingdom. Copyright 1994 by Royal Economic Society.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Oxford University Press in its journal Oxford Economic Papers.
Volume (Year): 46 (1994)
Issue (Month): 2 (April)
Contact details of provider:
Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK
Fax: 01865 267 985
Web page: http://oep.oupjournals.org/
Other versions of this item:
- Michael M Hutchison, 1990. "Manufacturing sector resiliency to energy booms: Empirical evidence from Norway, the Netherlands and the United Kingdom," BIS Working Papers 13, Bank for International Settlements.
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Raju, Sudhakar S. & Melo, Alberto, 2003. "Money, real output, and deficit effects of coffee booms in Colombia," Journal of Policy Modeling, Elsevier, vol. 25(9), pages 963-983, December.
- Svetlana Maslyuk & Russell Smyth, 2007.
"Non-Linear Unit Root Properties of Crude Oil Production,"
Monash Economics Working Papers
39-07, Monash University, Department of Economics.
- Maslyuk, Svetlana & Smyth, Russell, 2009. "Non-linear unit root properties of crude oil production," Energy Economics, Elsevier, vol. 31(1), pages 109-118, January.
- Hilde C. Bjørnland & Leif Anders Thorsrud, 2013.
"Boom or gloom? Examining the Dutch disease in a two-speed economy,"
CAMA Working Papers
2013-76, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
- Hilde C. Bjørnland & Leif Anders Thorsrud, 2013. "Boom or gloom? Examining the Dutch disease in a two-speed economy," Working Papers 0015, Centre for Applied Macro- and Petroleum economics (CAMP), BI Norwegian Business School.
- Francesco Guidi, 2010.
"The Economic Effects of Oil Prices Shocks on the UK Manufacturing and Services Sectors,"
The IUP Journal of Applied Economics,
IUP Publications, vol. 0(4), pages 5-34, October.
- 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.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press) or (Christopher F. Baum).
If references are entirely missing, you can add them using this form.