The Impacts of Exogenous Oil Supply Shocks on Mediterranean Economies

Andrea Bastianin, Marzio Galeotti and Matteo Manera ()

Departmental Working Papers from Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano

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: Oil supply shocks; Mediterranean; Growth (search for similar items in EconPapers)
JEL-codes: C22 E32 Q41 Q43 (search for similar items in EconPapers)
Date: 2015-10-10
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://wp.demm.unimi.it/files/wp/2015/DEMM-2015_15wp.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 500 Can't connect to aaa.unimi.it:80 (nodename nor servname provided, or not known) (http://wp.demm.unimi.it/files/wp/2015/DEMM-2015_15wp.pdf [302 Found]--> http://aaa.unimi.it)

Related works:
Journal Article: Oil supply shocks and economic growth in the Mediterranean (2017)
Working Paper: The Impacts of Exogenous Oil Supply Shocks on Mediterranean Economies (2016)
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)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mil:wpdepa:2015-15

Access Statistics for this paper

More papers in Departmental Working Papers from Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano Via Conservatorio 7, I-20122 Milan - Italy. Contact information at EDIRC.
Bibliographic data for series maintained by DEMM Working Papers ( this e-mail address is bad, please contact ).