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Does China factor matter? An econometric analysis of international crude oil prices

Whether China's crude oil imports are the culprit of oil price volatility these years has not been quantitatively confirmed. Therefore, this paper empirically investigates the role of China's crude oil net imports in Brent price changes from October 2005 to November 2013 based on an econometric anal... Full description

Journal Title: Energy Policy Sep 2014, Vol.72, p.78
Main Author: Wu, Gang
Other Authors: Zhang, Yue-Jun
Format: Electronic Article Electronic Article
Language: English
Subjects:
Quelle: © ProQuest LLC All rights reserved
ID: ISSN: 03014215 ; E-ISSN: 18736777
Link: http://search.proquest.com/docview/1539341146/?pq-origsite=primo
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title: Does China factor matter? An econometric analysis of international crude oil prices
format: Article
creator:
  • Wu, Gang
  • Zhang, Yue-Jun
subjects:
  • China
  • Econometrics
  • Crude Oil Prices
  • Studies
  • Imports
  • Causality
  • Foreign Exchange Rates
  • Energy Economics
  • Economic Theory
  • Asia & the Pacific
  • International Trade & Foreign Investment
  • Energy Policy
  • Experiment/Theoretical Treatment
  • Petroleum Industry
ispartof: Energy Policy, Sep 2014, Vol.72, p.78
description: Whether China's crude oil imports are the culprit of oil price volatility these years has not been quantitatively confirmed. Therefore, this paper empirically investigates the role of China's crude oil net imports in Brent price changes from October 2005 to November 2013 based on an econometric analysis. The results indicate that, during the sample period, China's crude oil imports do not significantly affect Brent price changes, no matter in the long run or short run. Therefore, the blame for China's crude oil imports to cause the dramatic fluctuations of international oil price has no solid evidence. Also, there exists significant uni-directional causality running from the Brent price to China's crude oil imports at the 5% level. Besides, the response of the Brent price to China's crude oil imports is found positive but slight, and the Brent price responds more significantly to US dollar exchange rate and OECD commercial inventory than to China's crude oil imports in the short run. Finally,...
language: eng
source: © ProQuest LLC All rights reserved
identifier: ISSN: 03014215 ; E-ISSN: 18736777
fulltext: no_fulltext
issn:
  • 03014215
  • 0301-4215
  • 18736777
  • 1873-6777
url: Link


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identifierISSN: 03014215 ; E-ISSN: 18736777
subjectChina ; Econometrics ; Crude Oil Prices ; Studies ; Imports ; Causality ; Foreign Exchange Rates ; Energy Economics ; Economic Theory ; Asia & the Pacific ; International Trade & Foreign Investment ; Energy Policy ; Experiment/Theoretical Treatment ; Petroleum Industry
descriptionWhether China's crude oil imports are the culprit of oil price volatility these years has not been quantitatively confirmed. Therefore, this paper empirically investigates the role of China's crude oil net imports in Brent price changes from October 2005 to November 2013 based on an econometric analysis. The results indicate that, during the sample period, China's crude oil imports do not significantly affect Brent price changes, no matter in the long run or short run. Therefore, the blame for China's crude oil imports to cause the dramatic fluctuations of international oil price has no solid evidence. Also, there exists significant uni-directional causality running from the Brent price to China's crude oil imports at the 5% level. Besides, the response of the Brent price to China's crude oil imports is found positive but slight, and the Brent price responds more significantly to US dollar exchange rate and OECD commercial inventory than to China's crude oil imports in the short run. Finally,...
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titleDoes China factor matter? An econometric analysis of international crude oil prices
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abstractWhether China's crude oil imports are the culprit of oil price volatility these years has not been quantitatively confirmed. Therefore, this paper empirically investigates the role of China's crude oil net imports in Brent price changes from October 2005 to November 2013 based on an econometric analysis. The results indicate that, during the sample period, China's crude oil imports do not significantly affect Brent price changes, no matter in the long run or short run. Therefore, the blame for China's crude oil imports to cause the dramatic fluctuations of international oil price has no solid evidence. Also, there exists significant uni-directional causality running from the Brent price to China's crude oil imports at the 5% level. Besides, the response of the Brent price to China's crude oil imports is found positive but slight, and the Brent price responds more significantly to US dollar exchange rate and OECD commercial inventory than to China's crude oil imports in the short run. Finally,...
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urlhttp://search.proquest.com/docview/1539341146/
date2014-09-01