A comparative analysis of the impact of oil prices on oil-rich emerging economies in the Pacific Rim

Masaaki Kuboniwa ()

Journal of Comparative Economics, 2014, vol. 42, issue 2, 328-339

Abstract: This paper examines the relationship between raw materials prices and economic growth through two channels, the terms of trade (ToT) and energy efficiency (EF), in three emerging Pacific Rim economies, Russia, Indonesia and Malaysia. We demonstrate positive relationships between changes in output and oil prices and between changes in GDP and energy efficiency (EF). We examine the impact of oil prices on output growth through the ToT and EF channels. The effect of oil prices on ToT in Russia and Malaysia is positive but negative in Indonesia. Oil prices have a positive effect on EF in all three countries.

Keywords: Growth; Oil price; Terms of trade; Energy efficiency; Pacific Rim (search for similar items in EconPapers)
JEL-codes: E31 P24 P28 P59 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (34)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jcecon:v:42:y:2014:i:2:p:328-339

DOI: 10.1016/j.jce.2014.03.007

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