Does Climate Change Mitigation Activity Affect Crude Oil Prices? Evidence from Dynamic Panel Model
Author
Source
Issue
Vol. 2014, Issue 2014 (31 Dec. 2014), pp.1-9, 9 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2014-12-10
Country of Publication
Egypt
No. of Pages
9
Main Subjects
Abstract EN
This paper empirically investigates how climate change mitigation affects crude oil prices while using carbon intensity as the indicator for climate change mitigation.
The relationship between crude oil prices and carbon intensity is estimated using an Arellano and Bond GMM dynamic panel model.
This study undertakes a regional-level analysis because of the geographical similarities among the countries in a region.
Regions considered for the study are Africa, Asia and Oceania, Central and South America, the EU, the Middle East, and North America.
Results show that there is a positive relationship between crude oil prices and carbon intensity, and a 1% change in carbon intensity is expected to cause about 1.6% change in crude oil prices in the short run and 8.4% change in crude oil prices in the long run while the speed of adjustment is 19%.
American Psychological Association (APA)
Dike, Jude C.. 2014. Does Climate Change Mitigation Activity Affect Crude Oil Prices? Evidence from Dynamic Panel Model. Journal of Energy،Vol. 2014, no. 2014, pp.1-9.
https://search.emarefa.net/detail/BIM-1040541
Modern Language Association (MLA)
Dike, Jude C.. Does Climate Change Mitigation Activity Affect Crude Oil Prices? Evidence from Dynamic Panel Model. Journal of Energy No. 2014 (2014), pp.1-9.
https://search.emarefa.net/detail/BIM-1040541
American Medical Association (AMA)
Dike, Jude C.. Does Climate Change Mitigation Activity Affect Crude Oil Prices? Evidence from Dynamic Panel Model. Journal of Energy. 2014. Vol. 2014, no. 2014, pp.1-9.
https://search.emarefa.net/detail/BIM-1040541
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1040541