The Impacts of Oil Price Fluctuations on Revealed Comparative Advantage of Manufacturing Commodities for ASEAN-5 Economies

Mukhriz Izraf Azman Aziz and Jauhari Dahalan
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Mukhriz Izraf Azman Aziz: Department of Economics, School of Economics, Finance and Banking, Universiti Utara Malaysia, 06010 Sintok, Kedah, Malaysia
Jauhari Dahalan: Department of Economics, School of Economics, Finance and Banking, Universiti Utara Malaysia, 06010 Sintok, Kedah, Malaysia.

International Journal of Energy Economics and Policy, 2015, vol. 5, issue 4, 1098-1108

Abstract: This paper attempts to quantify the effects of oil price fluctuations on revealed symmetric comparative advantage (RSCA) for 95 manufacturing commodities of 5 ASEAN countries from 1991 to 2012. Using Zellner s (1962) seemingly unrelated regression model, oil price fluctuations negatively affect RSCA of more than 60% of the manufacturing commodities estimated. This is true especially for low-technology (LT1 and LT2) and mediumtechnology (MT3) commodities. The paper also found that endowment variables such as labour and capital stock significantly affects RSCA for more than 50% of the equations, giving support to Ricardian and Heckscher-Ohlin theorem of comparative advantage.

Keywords: Revealed Comparative Advantage; Oil Price Shocks; International Trade (search for similar items in EconPapers)
JEL-codes: C33 F11 N50 (search for similar items in EconPapers)
Date: 2015
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