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A panel data analysis of the determinants of oil consumption: The case of Australia

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  • Narayan, Paresh Kumar
  • Wong, Philip

Abstract

The goal of this paper is to examine the determinants of oil consumption for a panel consisting of six Australian States and one territory, namely Queensland, New South Wales, Victoria, Tasmania, South Australia, Western Australia, and the Northern territory, for the period 1985-2006. We find that oil consumption, oil prices and income are panel cointegrated. We estimate long-run elasticities and find that oil prices have had a statistically insignificant impact on oil consumption, while income has had a statistically significant positive effect on oil consumption.

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  • Narayan, Paresh Kumar & Wong, Philip, 2009. "A panel data analysis of the determinants of oil consumption: The case of Australia," Applied Energy, Elsevier, vol. 86(12), pages 2771-2775, December.
    • Handle: RePEc:eee:appene:v:86:y:2009:i:12:p:2771-2775
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    Oil consumption Panel cointegration;

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