This paper studies the effects of demand shocks caused by Emerging Asian (EMA) countries on oil prices over the past two decades, using vector autoregression models. The analysis builds on previous work done on identifying different types of oil shocks using structural time series methods....

Crude oil popularly known as black gold is one among the vital energy resources throughout the world and with the rapid economic development the crude oil demand among the Asian countries has been rising rapidly, where in this perspective Asian countries form to a large chunk of crude oil...