The Impacts of Exogenous Oil Supply Shocks on Mediterranean Economies

Andrea Bastianin, Marzio Galeotti and Matteo Manera ()

No 230683, Energy: Resources and Markets from Fondazione Eni Enrico Mattei (FEEM)

Abstract: The security of energy supply is a key geopolitical factor in the relationship between the European Union and the southern neighborhood countries of the Middle East and North Africa region. We study the response of eight Mediterranean economies to exogenous oil supply shocks. We focus on the effects on economic activity - as measured by real Gross Value Added - for the whole economy, as well as for selected industries. We show that there are clear patterns characterizing the response of different economies to an unexpected reduction in global oil production. The main determinants of these patterns are the degree of energy intensity and energy dependence of the country, as well as the composition of its Gross Value Added.

Keywords: Resource/Energy; Economics; and; Policy (search for similar items in EconPapers)
Pages: 24
Date: 2016-02-03
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https://ageconsearch.umn.edu/record/230683/files/NDL2015-100.pdf (application/pdf)

Related works:
Working Paper: The Impacts of Exogenous Oil Supply Shocks on Mediterranean Economies (2015)
Working Paper: The Impacts of Exogenous Oil Supply Shocks on Mediterranean Economies (2015)
Working Paper: The Impacts of Exogenous Oil Supply Shocks on Mediterranean Economies (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:feemer:230683

DOI: 10.22004/ag.econ.230683

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