Oil Price Fluctuations and Changing Comparative Advantage

Mukhriz Izraf Azman Aziz and Nor’Aznin Abu Bakar

Sosyoekonomi Journal, 2013, issue 20(20)

Abstract: This paper attempts to quantify the effects of oil price fluctuations on revealed comparative advantage (RCA) for 36 manufacturing commodities of 167 countries over a 16-year period from 1990 to 2005. Using Zellner’s (1962) seemingly unrelated regression (SURE) model, the negative effects of oil price fluctuations on RCA vary according to objectives and model specification. Oil price fluctuations negatively affect manufacturing commodities’ RCA in 1997-2005 more than in 1990-1996 periods. The paper also found that oil price fluctuations negatively affect middle-income economies and net oil-exporting countries’ RCA more than high-income economies and net oil-importing countries.

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: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:sos:sosjrn:130206

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