Oil prices and competitiveness: time series evidence from six oil‐producing countries

Mohammad R. Jahan‐Parvar and Hassan Mohammadi
Authors registered in the RePEc Author Service: Mohammad Reza Jahan-Parvar

Journal of Economic Studies, 2009, vol. 36, issue 1, 98-118

Abstract: Purpose - The purpose of this paper is to study the potential loss of competitiveness due to higher oil prices through the monetary channel in a group of six oil producing countries. Design/methodology/approach - A dynamic time series methodology, Dynamic Simultaneous Equations, is applied to Vector Autoregressive Moving Average model with exogenous variables. Findings - Mixed evidence was found of loss of competitiveness due to high oil prices in the sample. Practical implications - Findings are useful both for academic researchers in international finance or development economics. Policy makers will find the results useful for implementing stabilization or neutralization policies. Originality/value - The empirical work extends earlier research in several directions including extension to six oil‐producing countries, use of data over the flexible exchange rate period, and a more suitable technique, which estimates the model in a dynamic setting.

Keywords: Competitive strategy; Oil industry; Monetary policy (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:eme:jespps:v:36:y:2009:i:1:p:98-118

DOI: 10.1108/01443580910923821

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