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Manufacturing Sector Resiliency to Energy Booms: Empirical Evidence from Norway, the Netherlands, and the United Kingdom

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  • Hutchison, Michael M

Abstract

The '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.

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Bibliographic Info

Article provided by Oxford University Press in its journal Oxford Economic Papers.

Volume (Year): 46 (1994)
Issue (Month): 2 (April)
Pages: 311-29

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Handle: RePEc:oup:oxecpp:v:46:y:1994:i:2:p:311-29

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Cited by:
  1. Sandrine Kablan & Josef Loening, 2014. "Is Chad Affected by Dutch or Nigerian Disease?," Working Papers, Department of Research, Ipag Business School 2014-492, Department of Research, Ipag Business School.
  2. 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.
  3. Maslyuk, Svetlana & Smyth, Russell, 2009. "Non-linear unit root properties of crude oil production," Energy Economics, Elsevier, Elsevier, vol. 31(1), pages 109-118, January.
  4. Alexander Plekhanov & Sergei Guriev & Konstantin Sonin, 2009. "Development based on commodity revenues," Working Papers, European Bank for Reconstruction and Development, Office of the Chief Economist 108, European Bank for Reconstruction and Development, Office of the Chief Economist.
  5. Ivanova, Galina, 2014. "The mining industry in Queensland, Australia: Some regional development issues," Resources Policy, Elsevier, Elsevier, vol. 39(C), pages 101-114.
  6. Hilde C. Bjørnland & Leif Anders Thorsrud, 2013. "Boom or gloom? Examining the Dutch disease in a two-speed economy," CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University 2013-76, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
  7. Raju, Sudhakar S. & Melo, Alberto, 2003. "Money, real output, and deficit effects of coffee booms in Colombia," Journal of Policy Modeling, Elsevier, Elsevier, vol. 25(9), pages 963-983, December.

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