A Study on the Effect of World Oil Price and Oil Export Towards Economic Growth
Since the early age, oil price has been influenced by many events - World War One, and then came the World War Two. Not forgetting the Yom Kippur War that started with an attack on Israel by Syria and Egypt on 5th October, 1973 while the crisis in Iran and Iraq led to another round of crude oil price increases in 1979 and 1980. Many events lately contribute to the rise of world oil prices. With the September 11 attack and crisis of US on Iraq, world is facing a big turnaround and this situation does not seem to reach the end. Malaysia has been experiencing increases in petrol price, diesel and LPG dramatically. This led to mixed reactions among Malaysian economist, companies, businesses and individuals. The continuous raising of the price is worrying everybody. The major question is that will it have an impact on Malaysian economic performance. The main objective of this study is to examine the impact of world oil price changes on Malaysian economic performance using multiple regression analysis on two variables over the period starting from year 2003 to 2012. The variable used is inflation rate as dependent variables and world oil price and oil export, as independent variables. Two models are formed from these variables. The results show that Industrial Production has significant relationship with the dependent variables. However, variables net export is dropped from the model due to the multicollinearity problem and the model is regressed again. Inflation rate also has significant relationship with the dependent variables
Year of publication: |
2013
|
---|---|
Authors: | Abdul Rashid, Ahmad Rashidi |
Publisher: |
[2013]: [S.l.] : SSRN |
Subject: | Ölmarkt | Oil market | Welt | World | Wirtschaftswachstum | Economic growth | Ölpreis | Oil price | Export | OPEC-Staaten | OPEC countries | Erdöl | Petroleum |
Saved in:
freely available
Extent: | 1 Online-Ressource (16 p) |
---|---|
Type of publication: | Book / Working Paper |
Language: | English |
Notes: | Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments June 8, 2013 erstellt |
Other identifiers: | 10.2139/ssrn.2276383 [DOI] |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10013080830
Saved in favorites
Similar items by subject
-
Energy as a driver of growth in oil exporting countries?
Damette, Olivier, (2013)
-
The correlates of terms of trade in oil exporting countries of Gulf cooperation council region
Haque, Mohammad Imdadul, (2021)
-
The role of oil prices in exchange rate movements : the CIS oil exporters
Hasanov, Fakhri, (2017)
- More ...