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Pregled bibliografske jedinice broj: 534992

Oil Consumption and Economic Growth Interdependence in Small European Countries


Žiković, Saša; Vlahinić-Dizdarević, Nela
Oil Consumption and Economic Growth Interdependence in Small European Countries // Ekonomska istraživanja/Economic research, 24 (2011), 3; 15-32 (međunarodna recenzija, članak, znanstveni)


Naslov
Oil Consumption and Economic Growth Interdependence in Small European Countries

Autori
Žiković, Saša ; Vlahinić-Dizdarević, Nela

Izvornik
Ekonomska istraživanja/Economic research (1331-677X) 24 (2011), 3; 15-32

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
Oil consumption; economic growth; small European countries; Granger causality; Error Correction Model (ECM)

Sažetak
The paper examines the existence and the direction of causality between the oil consumption and the economic growth in small European countries over the period 1980–2007 for the developed countries and 1993-2007 for the transition countries. Our findings show that small European states can be divided into two groups. The first group is characterized by the causality running from real GDP to oil consumption and is composed of the most developed European countries and a number of transition countries. In the former case, the direction of causality is a consequence of a highly developed post-industrial society with a strong tertiary sector. In the case of transition economies the direction of causality can be related to deindustrialization process and transition depression that resulted in a sharp industrial decline and decreased industrial oil demand. The second group is characterized by the causality running from oil consumption to economic growth, in which case the state should employ additional resources in subsidizing oil prices and securing long term and stable oil sources for its economy. In such countries the reduction of oil consumption because of different reasons (external prices shocks, increased taxes on oil and its derivatives, restrictive ecological laws regarding CO2 emission) could lead to a fall in economic growth.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija



POVEZANOST RADA


Projekt / tema
081-0000000-1264 - Strategija ekonomsko-socijalnih odnosa hrvatskog društva (Helena Blažić, )
081-0361557-1455 - Ekonomski učinci regulatornih reformi elektroenergetskog sektora (Nela Vlahinić, )

Ustanove
Ekonomski fakultet, Rijeka

Časopis indeksira:


  • Web of Science Core Collection (WoSCC)
    • Social Science Citation Index (SSCI)
    • SCI-EXP, SSCI i/ili A&HCI
  • Scopus


Uključenost u ostale bibliografske baze podataka:


  • ABI/INFORM
  • CAB Abstracts
  • EconLit
  • Geobase
  • EBSCO Publishing Database, Scopus, Cabell's Directory of Publishing Opportunities in Economics&Finance, Index Copernicus Jounals Master List