Oil-exporting Countries (oil-exporting + country)

Distribution by Scientific Domains


Selected Abstracts


Long-run purchasing power parity with asymmetric adjustment: evidence from nine major oil-exporting countries

INTERNATIONAL JOURNAL OF FINANCE & ECONOMICS, Issue 3 2010
Tsangyao Chang
Abstract In this study, we apply threshold cointegration test advanced by Enders and Siklos (2001) to investigate the properties of asymmetric adjustment in long-run purchasing power parity (PPP) in nine major oil-exporting countries. Although there is evidence of long-run PPP for these nine oil-exporting countries, the adjustment mechanism is asymmetric. These results have important policy implications for these nine oil-exporting countries under study. Copyright © 2008 John Wiley & Sons, Ltd. [source]


On the influence of oil prices on economic activity and other macroeconomic and financial variables,

OPEC ENERGY REVIEW, Issue 4 2008
François Lescaroux
The aim of this paper is to investigate the links between oil prices and various macroeconomic and financial variables for a large set of countries, including both oil-importing and oil-exporting countries. Both short-run and long-run interactions are analysed through the implementation of Granger-causality tests, evaluation of cross correlations between the cyclical components of the series in order to identify lead/lag relationships and cointegration analysis. Our results highlight the existence of various relationships between oil prices and macroeconomic variables and, especially, an important link between oil and share prices on the short run. Turning to the long run, numerous long-term relationships are detected, the Granger-causality generally running from oil prices to the other variables. An important conclusion is relating to the key role played by the oil market on stock markets. [source]