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How stable is relationship between US petroleum imports and economic growth?

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  • Kofi Amoateng

Abstract

In this paper, we empirically examine the long-run and short-run dynamics of the US gross national product and petroleum imports for the last three decades. We find evidence of a long-run relationship between gross domestic national product and petroleum imports, but only a fragile one. Similarly there is a significant feedback (long-term) effect from petroleum imports to gross national product and vice versa. This feedback is fairly significant. However, the short-term effect is highly significant, but there is a relatively slow response from the values of gross national product to petroleum imports. Therefore, the link between US gross national product and petroleum imports is fragile in the long run.

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  • Kofi Amoateng, 1997. "How stable is relationship between US petroleum imports and economic growth?," Applied Economics Letters, Taylor & Francis Journals, vol. 4(9), pages 551-554.
    • Handle: RePEc:taf:apeclt:v:4:y:1997:i:9:p:551-554
    DOI: 10.1080/135048597355005
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