Pregled bibliografske jedinice broj: 1195934
Asymmetric and nonlinear oil price pass-through to economic growth in Croatia: Do oil-related policy shocks matter?
Asymmetric and nonlinear oil price pass-through to economic growth in Croatia: Do oil-related policy shocks matter? // Resources Policy, 76 (2022), 102736, 13 doi:10.1016/j.resourpol.2022.102736 (međunarodna recenzija, članak, znanstveni)
CROSBI ID: 1195934 Za ispravke kontaktirajte CROSBI podršku putem web obrasca
Naslov
Asymmetric and nonlinear oil price pass-through to economic growth in Croatia: Do oil-related policy shocks matter?
Autori
Borozan, Đula ; Lolić Čipčić, Marina
Izvornik
Resources Policy (0301-4207) 76
(2022);
102736, 13
Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni
Ključne riječi
Oil prices ; Economic activity ; Policy shocks ; Asymmetry ; Oil-importing countries
Sažetak
Recent turbulent developments in the world oil market have increased the volatility of oil prices and rekindled interest in studying their impact on macroeconomic activity. Using the vector autoregression framework, this paper investigates the impact of oil price shocks, expressed in linear, asymmetric and nonlinear form, on real gross domestic product (GDP) growth in an oil-importing small open economy, i.e., Croatia, for the period 1995:Q1-2019:Q4. The results corroborate the presence of the asymmetric, nonlinear and direct short-run effect of oil price shocks on real GDP growth. A decrease in oil prices leads to a statistically significant increase in real GDP and its more volatile behavior, while an increase in oil prices causes a considerable drop in economic activity only in the fourth quarter. The oil-related policy shock variables, fuel market liberalization and fuel taxation, turned out to be insignificant predictors of GDP growth in an asymmetric and nonlinear model specification.
Izvorni jezik
Engleski
Znanstvena područja
Ekonomija
POVEZANOST RADA
Projekti:
HRZZ-IP-2020-02-1018 - Ekonomski izazovi tranzicije prema niskougljičnom rastu (EINURA) (Borozan, Đula, HRZZ - 2020-02) ( CroRIS)
Ustanove:
Ekonomski fakultet, Osijek,
Sveučilište u Splitu Sveučilišni odjel za stručne studije
Citiraj ovu publikaciju:
Časopis indeksira:
- Current Contents Connect (CCC)
- Web of Science Core Collection (WoSCC)
- Social Science Citation Index (SSCI)
- SCI-EXP, SSCI i/ili A&HCI
- Scopus
