本站公告:
>

欢迎来到厦门大学中国能源经济研究中心

网站访问次数:

当前位置: 首页  新闻动态  发表论文
The relationship between oil price shocks and Chinas macro-economy: An empirical analysis

时间: 2011-04-02 来源: 《Energy Policy》 作者: 浏览次数: 0

| 更多

【英文篇名】

The relationship between oil price shocks and China's macro-economy: An empirical analysis

【作者中文名】

杜立民等

【作者英文名】

Limin Du, He Yanan and Chu WEI

【作者单位】

厦门大学中国能源经济研究中心 福建厦门;

【文献出处】

Energy Policy》38(2010)4142–4151

 

Keywords

Oil; price; shocks; Macro-economy; China

 

Abstract

This paper investigates the relationship between the world oil price and China's macro-economy based on a monthly time series from 1995:1 to 2008:12, using the method of multivariate vector autoregression (VAR). The results show that the world oil price affects the economic growth and inflation of China significantly, and the impact is non-linear. On the other hand, China's economic activity fails to affect the world oil price, which means that the world oil price is still exogenous with respect to China's macro-economy in time series sense, and China has not yet had an oil pricing power in the world oil markets. The structural stability tests demonstrate that there is a structural break in the VAR model because of the reforms of China's oil pricing mechanism, thus it is more appropriate to break the whole sample into different sub-samples for the estimation of the model.

 

 

 

首页 | 厦门大学 | 设为首页 | 加入收藏 | 返回顶部

Copyright 2008 厦门大学中国能源经济研究中心 All Rights Reserved.
Tel:86-592-2186076 Email:cceer@xmu.edu.cn
地址:厦门大学经济学院B202;邮编:361005