Manufacturing Sector Resiliency to Energy Booms: Empirical Evidence from Norway, the Netherlands, and the United Kingdom
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.Download Info
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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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Related research
Keywords: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.
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Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- Maslyuk, Svetlana & Smyth, Russell, 2009.
"Non-linear unit root properties of crude oil production,"
Energy Economics,
Elsevier, vol. 31(1), pages 109-118, January.
- 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.
- 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.
- 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.
- 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.
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