5 research outputs found
Interactions between business conditions, economic growth and crude oil prices
This study aims to research the empirical relationship between
business conditions (BCs) and crude oil prices by employing a time
series analysis for a panel of regions. BCs have been proxied by real
income and real industrial production (IND) as advised in the relevant
literature. Results suggest that economic activity and industrial value
added are in a long-term relationship with oil price movements in the
selected countries and regions. Gross domestic product (GDP) and
IND are significantly affected by oil prices worldwide. Real income
converges to long-term paths significantly, but at low levels through
the channel of oil price movements. Oil price has a negative impact
on business activities in some countries while it has a positive impact
in others. Therefore, the sign of coefficient of oil prices on business
conditions has found significant in this research study
The role of financial systems in energy demand: A comparison of developed and developing countries
This study investigates the role of the financial system in energy demand in the cases of developed and developing countries. Time-series analyses are carried out using the annual data period from 2000 to 2015. Results indicate that the financial system and financial markets are long-term catalysts for energy consumption in both groups under consideration. Results show that domestic credits by banks positively impact energy demand in developing countries, while this is money supply impacting positively on energy demand in the case of developed nations. The results of this study reveal important policy implications