A panel data analysis of the determinants of oil consumption: The case of Australia
The goal of this paper is to examine the determinants of oil consumption for a panel consisting of six Australian States and one territory, namely Queensland, New South Wales, Victoria, Tasmania, South Australia, Western Australia, and the Northern territory, for the period 1985-2006. We find that oil consumption, oil prices and income are panel cointegrated. We estimate long-run elasticities and find that oil prices have had a statistically insignificant impact on oil consumption, while income has had a statistically significant positive effect on oil consumption.
Year of publication: |
2009
|
---|---|
Authors: | Narayan, Paresh Kumar ; Wong, Philip |
Published in: |
Applied Energy. - Elsevier, ISSN 0306-2619. - Vol. 86.2009, 12, p. 2771-2775
|
Publisher: |
Elsevier |
Subject: | Oil consumption Panel cointegration |
Saved in:
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