The regional economic impact of oil and gas extraction in Texas

Jim Lee

Energy Policy, 2015, vol. 87, issue C, 60-71

Abstract: This paper empirically investigates the regional economic impact of oil and gas extraction in Texas during the recent shale oil boom. Regressions with county-level data over the period 2009–2014 support smaller multiplier effects on local employment and income than corresponding estimates drawn from popular input–output-based studies. Economic impacts were larger for extraction from gas wells than oil wells, while the drilling phase generated comparable impacts. Estimates of economic impacts are greater in a dynamic spatial panel model that allows for spillover effects across local economies as well as over time.

Keywords: Oil and gas extraction; Dynamic spatial panel model; Multiplier effects; Regional economic impact (search for similar items in EconPapers)
JEL-codes: O13 Q3 R12 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (26)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:enepol:v:87:y:2015:i:c:p:60-71

DOI: 10.1016/j.enpol.2015.08.032

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