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An Analysis of Oil Production by OPEC Countries: Persistence, Breaks, and Outliers

  • Carlos Pestana Barros

    ()

    (Technical University of Lisbon)

  • Luis A. Gil-Alana

    ()

    (University of Navarra)

  • James E. Payne

    ()

    (Illinois State University)

This study examines the degree of persistence, potential breaks and outliers of oil production for OPEC member countries within a fractional integration modelling framework using monthly data from January 1973 to October 2008. The results indicate there is mean reverting persistence in oil production with breaks identified in ten out of the fourteen countries examined. Thus, shocks affecting the structure of OPEC oil production will have persistent effects in the long run for all countries, and in some cases the effects are expected to be permanent.

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File URL: http://www.unav.es/facultad/econom/files/workingpapersmodule/@random4d35501bb6886/1298996884_WP_UNAV_01_11.pdf
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Paper provided by School of Economics and Business Administration, University of Navarra in its series Faculty Working Papers with number 01/11.

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Length: 34 pages
Date of creation: 18 Jan 2011
Date of revision:
Handle: RePEc:una:unccee:wp0111
Contact details of provider: Web page: http://www.unav.es/facultad/econom

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