A panel data analysis of the determinants of oil consumption: The case of Australia

Paresh Narayan () and Philip Wong

Applied Energy, 2009, vol. 86, issue 12, 2775 pages

Abstract: The goal of this paper is to examine the determinants of oil consumption for a panel consisting of six Australian States and one territory, namely Queensland, New South Wales, Victoria, Tasmania, South Australia, Western Australia, and the Northern territory, for the period 1985-2006. We find that oil consumption, oil prices and income are panel cointegrated. We estimate long-run elasticities and find that oil prices have had a statistically insignificant impact on oil consumption, while income has had a statistically significant positive effect on oil consumption.

Keywords: Oil; consumption; Panel; cointegration (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (29)

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