Relationship between Oil Consumption and GDP-A Study in India

S Subramanian and Srivyal Vuyyuri
Authors registered in the RePEc Author Service: Subramanian Shanmugasundaram

The IUP Journal of Applied Economics, 2004, vol. III, issue 2, 81-90

Abstract: The Importance of oil in the economy of any country cannot be overemphasized. The oil stocks in the 1970s sent shockwaves to almost all the countries in the world, oil importing countries in particular. Substantial literature has been developed basing on the role displayed by oil consumption in the growth of an economy. This paper contributes along the same lines for the case of India. We find a long run Co integrating relationship between real GDP and oil consumption and also a feedback effect between these variables.

Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:icf:icfjae:v:03:y:2004:i:2:p:81-90

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