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The relationship between oil price changes and economic growth in Canadian provinces: Evidence from a quantile-on-quantile approach

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  • Moghaddam, Mohsen Bakhshi

Abstract

This paper analyzes the relationship between oil price changes and economic growth in Canadian provinces using the quantile-on-quantile (QQ) approach. The applied methodology can capture the linkage between the two variables under different economic states while considering the size and sign of the oil price changes. The results show that the impacts of oil price changes on Canadian provinces’ economic growth are considerably heterogeneous across different quantiles of the two variables. The results also reveal that the oil-economic growth relationship is heterogeneous across Canadian provinces, both within each group of oil-producing and non-oil-producing provinces and between the two groups.

Suggested Citation

  • Moghaddam, Mohsen Bakhshi, 2023. "The relationship between oil price changes and economic growth in Canadian provinces: Evidence from a quantile-on-quantile approach," Energy Economics, Elsevier, vol. 125(C).
    • Handle: RePEc:eee:eneeco:v:125:y:2023:i:c:s0140988323002876
    DOI: 10.1016/j.eneco.2023.106789
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    References listed on IDEAS

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    Cited by:

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    2. Bulat Mukhamediyev & Sayat Zhamanbayev & Aliya Mukhamediyeva, 2024. "Central Bank Independence and Oil Prices Impact on Macroeconomic Indicators," International Journal of Energy Economics and Policy, Econjournals, vol. 14(3), pages 9-17, May.
    3. Zhao, Lili & Lin, Yutong & Liu, Zhenhao & Yang, Guozheng, 2026. "Examining climate risk attention in stock markets: insights from quantile-on-quantile regression," The North American Journal of Economics and Finance, Elsevier, vol. 81(C).
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    6. Yang, Shaopeng & Fu, Yuxi, 2025. "Interconnectedness among supply chain disruptions, energy crisis, and oil market volatility on economic resilience," Energy Economics, Elsevier, vol. 143(C).
    7. Mohsen Bakhshi Moghaddam & Saeed Moshiri, 2025. "Oil-macroeconomy relationship over time: Does oil still matter?," Empirical Economics, Springer, vol. 69(6), pages 3205-3225, December.
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    10. Liu, Min & Liu, Hong-Fei & Lee, Chien-Chiang, 2024. "An empirical study on the response of the energy market to the shock from the artificial intelligence industry," Energy, Elsevier, vol. 288(C).
    11. Min Liu & Chien‐Chiang Lee, 2025. "Exploring the Driving Forces of the Correlations Between China's Crude Oil Futures and Global and Regional Benchmarks," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 45(4), pages 379-392, April.
    12. Zichun Yan & Zehan Wang & Jingjia Zhang & Yuwei Huang & Shengtai Zhang & Mohammad Zoynul Abedin, 2026. "Navigating through green policies: how green technology innovation affects the financial cycle," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 13(1), pages 1-19, December.
    13. Kaihua Wang, 2024. "Economic policy uncertainty and green finance: evidence from frequency and quantile aspects," Economic Change and Restructuring, Springer, vol. 57(1), pages 1-26, February.

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    More about this item

    Keywords

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    JEL classification:

    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • Q33 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Resource Booms (Dutch Disease)
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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