The Influence of Oil Prices on an Oil-Importing Developing Economy
This research examines the influence of an increase in the price of oil on a developing economy. We consider the area to which the influences of oil price revelation depend upon the economy's internal production structure and its approach to the world financial market, and find that the long-run influence depends more on the earlier than the latter. Two unfavorable quantities which the long-run effects are (i) the relative share of oil to labor in production and (ii) the elasticity of replacement in production. We increase the unapproachable examination with numbers pretends, thereby allowing us to distinguish the short-run actives. In general, the affections can replicate much of the empirical evidence used to distinguish the effects of the recent oil price increases on the economy. They also focus the responsiveness of the effect of the oil price to the elasticity of replacement.
Volume (Year): 2 (2012)
Issue (Month): 4 (October)
|Contact details of provider:|| Web page: http://hrmars.com/index.php/pages/detail/Accounting-Finance-Journal|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Bodenstein, Martin & Erceg, Christopher J. & Guerrieri, Luca, 2011.
"Oil shocks and external adjustment,"
Journal of International Economics,
Elsevier, vol. 83(2), pages 168-184, March.
- Luca Guerrieri & Christopher Erceg & Martin Bodenstein, 2008. "Oil Shocks and External Adjustment," 2008 Meeting Papers 945, Society for Economic Dynamics.
- Martin Bodenstein & Christopher J. Erceg & Luca Guerrieri, 2007. "Oil shocks and external adjustment," International Finance Discussion Papers 897, Board of Governors of the Federal Reserve System (U.S.).
- Rajeev Dhawan & Karsten Jeske, 2006. "How resilient is the modern economy to energy price shocks?," Economic Review, Federal Reserve Bank of Atlanta, issue Q 3, pages 21-32.
- Mork, Knut Anton, 1989. "Oil and Macroeconomy When Prices Go Up and Down: An Extension of Hamilton's Results," Journal of Political Economy, University of Chicago Press, vol. 97(3), pages 740-44, June.
- Anton Nakov & Andrea Pescatori, 2010.
"Oil and the Great Moderation,"
Royal Economic Society, vol. 120(543), pages 131-156, 03.
- David K. Backus & Mario J. Crucini, 1998.
"Oil Prices and the Terms of Trade,"
NBER Working Papers
6697, National Bureau of Economic Research, Inc.
- Hamilton, James D., 1996. "This is what happened to the oil price-macroeconomy relationship," Journal of Monetary Economics, Elsevier, vol. 38(2), pages 215-220, October.
- James D. Hamilton, 2000.
"What is an Oil Shock?,"
NBER Working Papers
7755, National Bureau of Economic Research, Inc.
- Andrew Atkeson & Patrick J. Kehoe, 1994.
"Models of Energy Use: Putty-Putty versus Putty-Clay,"
NBER Working Papers
4833, National Bureau of Economic Research, Inc.
- Patrick J. Kehoe & Andrew Atkeson, 1999. "Models of Energy Use: Putty-Putty versus Putty-Clay," American Economic Review, American Economic Association, vol. 89(4), pages 1028-1043, September.
- International Monetary Fund, 2007.
"Oil Shocks and External Balances,"
IMF Working Papers
07/110, International Monetary Fund.
- Kilian, Lutz & Rebucci, Alessandro & Spatafora, Nikola, 2007. "Oil Shocks and External Balances," CEPR Discussion Papers 6303, C.E.P.R. Discussion Papers.
- Lutz Kilian & Alessandro Rebucci & Nikola Spatafora, 2007. "Oil Shocks and External Balances," Working Papers 562, Research Seminar in International Economics, University of Michigan.
- Pindyck, Robert S & Rotemberg, Julio J, 1983. "Dynamic Factor Demands and the Effects of Energy Price Shocks," American Economic Review, American Economic Association, vol. 73(5), pages 1066-79, December.
- Gupta, Eshita, 2008. "Oil vulnerability index of oil-importing countries," Energy Policy, Elsevier, vol. 36(3), pages 1195-1211, March.
- Sebastian Edwards, 1983. "LDC's Foreign Borrowing and Default Risk: An Empirical Investigation," NBER Working Papers 1172, National Bureau of Economic Research, Inc.
- Alaimo, Veronica & Lopez, Humberto, 2008. "Oil intensities and oil prices : evidence for Latin America," Policy Research Working Paper Series 4640, The World Bank.
- Edda Zoli, 2004. "Credit Rationing in Emerging Economies' Access to Global Capital Markets," IMF Working Papers 04/70, International Monetary Fund.
- Edwards, Sebastian, 1984. "LDC Foreign Borrowing and Default Risk: An Empirical Investigation, 1976-80," American Economic Review, American Economic Association, vol. 74(4), pages 726-34, September.
- Ibrahim, Ibrahim B. & Hurst, Christopher, 1990. "Estimating energy and oil demand functions : A study of thirteen developing countries," Energy Economics, Elsevier, vol. 12(2), pages 93-102, April.
- Duffy, John & Papageorgiou, Chris, 2000. "A Cross-Country Empirical Investigation of the Aggregate Production Function Specification," Journal of Economic Growth, Springer, vol. 5(1), pages 87-120, March.
- Chung, Keunsuk & Turnovsky, Stephen J., 2010. "Foreign debt supply in an imperfect international capital market: Theory and evidence," Journal of International Money and Finance, Elsevier, vol. 29(2), pages 201-223, March.
- Hamilton, James D, 1983. "Oil and the Macroeconomy since World War II," Journal of Political Economy, University of Chicago Press, vol. 91(2), pages 228-48, April.
When requesting a correction, please mention this item's handle: RePEc:hur:ijaraf:v:2:y:2012:i:4:p:66-82. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Hassan Danial Aslam)
If references are entirely missing, you can add them using this form.