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Price and income elasticities of crude oil import demand in South Africa: A cointegration analysis

机译:南非原油进口需求的价格和收入弹性:协整分析

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摘要

This paper examines the demand for imported crude oil in South Africa as a function of real income and the price of crude oil over the period 1980-2006. We carried out the Johansen co integration multivariate analysis to determine the long-run income and price elasticities. A unique long-run cointegration relationship exists between crude oil imports and the explanatory variables. The short-run dynamics are estimated by specifying a general error correction model. The estimated long-run price and income elasticities of -0.147 and 0.429 suggest that import demand for crude oil is price and income inelastic. There is also evidence of unidirectional long-run causality running from real GDP to crude oil imports.
机译:本文考察了南非对进口原油的需求与实际收入和1980-2006年间原油价格的关系。我们进行了Johansen协整多元分析,以确定长期收入和价格弹性。原油进口与解释变量之间存在独特的长期协整关系。通过指定一般的纠错模型可以估算短期动态。估计的长期价格和收入弹性为-0.147和0.429,表明对原油的进口需求是价格和收入的弹性。也有证据表明,从实际GDP到原油进口的单向长期因果关系。

著录项

  • 来源
    《Energy Policy》 |2010年第12期|p.7844-7849|共6页
  • 作者

    Emmanuel Ziramba;

  • 作者单位

    Department of Economics, University of South Africa, P.O Box 392, Unisa 0003, South Africa;

  • 收录信息 美国《科学引文索引》(SCI);美国《工程索引》(EI);
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

    crude oil import; South Africa; cointegration;

    机译:进口原油;南非;协整;

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