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Sectoral demand for petroleum in Thailand

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  • Leesombatpiboon, Poonpat
  • Joutz, Frederick L.

Abstract

This paper examines the short-run and long-run determinants of final oil consumption in seven major economic sectors in Thailand. Two different approaches are compared. The first approach uses dynamic panel data estimation techniques taking into account oil consumption of the whole economy in an aggregate manner. The second approach employs the ADL equilibrium correction framework to model oil demand in each economic sector separately. The dynamic panel data approach estimates appear consistent with economic theory. The coefficients have the correct signs and the magnitudes of long-run responses are larger than the short-run responses. The single sector model approach yields similar but richer results. Relaxing the identical slope assumption reveals interesting sector specific characteristics.

Suggested Citation

  • Leesombatpiboon, Poonpat & Joutz, Frederick L., 2010. "Sectoral demand for petroleum in Thailand," Energy Economics, Elsevier, vol. 32(Supplemen), pages 15-25, September.
    • Handle: RePEc:eee:eneeco:v:32:y:2010:i:supplement1:p:s15-s25
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    Citations

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    Cited by:

    1. Archanskaïa, Elizaveta & Creel, Jérôme & Hubert, Paul, 2012. "The nature of oil shocks and the global economy," Energy Policy, Elsevier, vol. 42(C), pages 509-520.
    2. Luis Miguel Galindo & Jimy Ferrer Carbonell & José Eduardo Alatorre & Orlando Reyes, 2015. "Metaanálisis de las elasticidades ingreso y precio de la demanda de energía: algunas implicaciones de politica pública para América Latina," Revista Economía, Fondo Editorial - Pontificia Universidad Católica del Perú, vol. 38(75), pages 9-40.
    3. Yusof, Ahmad & Raman, Maznah & Nopiah, Zulkifli, 2013. "Modeling of the Malaysian Crude Oil System," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 47(1), pages 125-130.
    4. Janthana Kunchornrat & Aumnad Phdungsilp, 2012. "Multi-Level Governance of Low-Carbon Energy Systems in Thailand," Energies, MDPI, vol. 5(3), pages 1-14, February.
    5. Galindo, Luis Miguel & Samaniego, Joseluis & Ferrer, Jimy & Alatorre, José Eduardo & Reyes, Orlando, 2016. "Cambio climático, políticas públicas y demanda de energía y gasolinas en América Latina: un meta-análisis," Documentos de Proyectos 40841, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    6. Kannika Duangnate & James W. Mjelde, 2022. "The Role of Pre-Commitments and Engle Curves in Thailand’s Aggregate Energy Demand System," Energies, MDPI, vol. 15(4), pages 1-16, February.

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