Estimating the long-run demand elasticities of crude oil : evidence from GCC members

المؤلف

al-Ubayd, Husayn M. A.

المصدر

Revue Cahiers Economiques

العدد

المجلد 11، العدد 2 (31 ديسمبر/كانون الأول 2020)، ص ص. 162-182، 21ص.

الناشر

جامعة زيان عاشور بالجلفة كلية العلوم الاقتصادية و العلوم التجارية و علوم التسيير

تاريخ النشر

2020-12-31

دولة النشر

الجزائر

عدد الصفحات

21

التخصصات الرئيسية

الاقتصاد

الموضوعات

الملخص EN

Crude oil has a substantial influence on the world's economies because it impacts people's lives.

This study attempts to investigate the crude oil demand response to crude oil prices and income for the Gulf Cooperation Council (GCC) members.

To do so, this study applies different techniques such as a unit root test, an ordinary least squares analysis, and Granger causality tests using time series data from 1970 to 2017 to determine the price and income elasticities of crude oil.

The time series data provides information on the prices and consumption of crude oil, which allowed us to identify trends in the long-run demand for crude oil as a commodity.

We provide evidence regarding the income and price elasticities of demand for GCC members.

The results indicate that the long-run price elasticities for the various GCC members ranged from -1.

19 (UAE) to -0.

19 (Bahrain).

The results also show that the GCC members differ in how crude oil demand responds to income, ranging from 1.

26 (the UAE) to 0.

10 (Bahrain), which is consistent with economic theory.

This research is important because it explicitly considers the impact of price and income changes on oil consumption behaviors, which directly impacts GCC members in the long-run.

نمط استشهاد جمعية علماء النفس الأمريكية (APA)

al-Ubayd, Husayn M. A.. 2020. Estimating the long-run demand elasticities of crude oil : evidence from GCC members. Revue Cahiers Economiques،Vol. 11, no. 2, pp.162-182.
https://search.emarefa.net/detail/BIM-1007455

نمط استشهاد الجمعية الأمريكية للغات الحديثة (MLA)

al-Ubayd, Husayn M. A.. Estimating the long-run demand elasticities of crude oil : evidence from GCC members. Revue Cahiers Economiques Vol. 11, no. 2 (2020), pp.162-182.
https://search.emarefa.net/detail/BIM-1007455

نمط استشهاد الجمعية الطبية الأمريكية (AMA)

al-Ubayd, Husayn M. A.. Estimating the long-run demand elasticities of crude oil : evidence from GCC members. Revue Cahiers Economiques. 2020. Vol. 11, no. 2, pp.162-182.
https://search.emarefa.net/detail/BIM-1007455

نوع البيانات

مقالات

لغة النص

الإنجليزية

الملاحظات

Includes bibliographical references : p.180-182

رقم السجل

BIM-1007455