Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.enpol.2018.04.001 |
Is the demand for crude oil inelastic for India? Evidence from structural VAR; analysis | |
Dash, Devi Prasad1; Sethi, Narayan2; Bal, Debi Prasad3 | |
2018-07-01 | |
发表期刊 | ENERGY POLICY
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ISSN | 0301-4215 |
EISSN | 1873-6777 |
出版年 | 2018 |
卷号 | 118页码:552-558 |
文章类型 | Article |
语种 | 英语 |
国家 | India |
英文摘要 | We examine the dynamics of crude oil demand, crude oil price, and economic growth over the period of 1997-2016 in case of India. We derive the results from DNS unit root test and it indicates that all variables are stationary in their first order difference. Further, we apply Narayan and Popp (2010) two structure break test and find two break points, one in January 2002 and another one in November 2011 in case of crude oil price. Finally, the Structural VAR analysis depicts that there exists a negative and significant relation between crude oil price dummy and crude oil demand over the period. Further, the price elasticity shows that the percentage changes of crude oil demand response less as compare to the rise in crude oil price. This clearly suggests that crude oil price is moderately inelastic. This overall implies that global crude oil price fluctuation has not brought down India's crude oil import to a greater extent. In order to erase the bulging oil import bill, alternative strategies of producing methanol blended oil, revival of sick oil well production, and adoption of phase wise clean energy system could curb the import dependence of crude oil. |
英文关键词 | Crude oil demand Crude oil price Economic growth Structural VAR |
领域 | 气候变化 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000435050000049 |
WOS关键词 | ECONOMIC-GROWTH ; IMPORT DEMAND ; SUPPLY SHOCKS ; EXCHANGE-RATE ; PRICE SHOCKS ; SHORT-RUN ; CONSUMPTION ; IMPACT ; ELASTICITY ; DYNAMICS |
WOS类目 | Economics ; Energy & Fuels ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/16880 |
专题 | 气候变化 |
作者单位 | 1.IIT Ropar, Dept Humanities & Social Sci, Rupnagar, India; 2.NIT Rourkela, Dept Humanities & Social Sci, Rourkela, India; 3.NIT Sikkim, Dept Humanities & Social Sci, Ravangla, India |
推荐引用方式 GB/T 7714 | Dash, Devi Prasad,Sethi, Narayan,Bal, Debi Prasad. Is the demand for crude oil inelastic for India? Evidence from structural VAR; analysis[J]. ENERGY POLICY,2018,118:552-558. |
APA | Dash, Devi Prasad,Sethi, Narayan,&Bal, Debi Prasad.(2018).Is the demand for crude oil inelastic for India? Evidence from structural VAR; analysis.ENERGY POLICY,118,552-558. |
MLA | Dash, Devi Prasad,et al."Is the demand for crude oil inelastic for India? Evidence from structural VAR; analysis".ENERGY POLICY 118(2018):552-558. |
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