The Experts below are selected from a list of 114 Experts worldwide ranked by ideXlab platform
Ibrahim Arisoy - One of the best experts on this subject based on the ideXlab platform.
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an estimation of Crude Oil import demand in turkey evidence from time varying parameters approach
Energy Policy, 2016Co-Authors: Ilhan Ozturk, Ibrahim ArisoyAbstract:The aim of this study is to model Crude Oil import demand and estimate the price and income elasticities of Imported Crude Oil in Turkey based on a time-varying parameters (TVP) approach with the aim of obtaining accurate and more robust estimates of price and income elasticities. This study employs annual time series data of domestic Oil consumption, real GDP, and Oil price for the period 1966–2012. The empirical results indicate that both the income and price elasticities are in line with the theoretical expectations. However, the income elasticity is statistically significant while the price elasticity is statistically insignificant. The relatively high value of income elasticity (1.182) from this study suggests that Crude Oil import in Turkey is more responsive to changes in income level. This result indicates that Imported Crude Oil is a normal good and rising income levels will foster higher consumption of Oil based equipments, vehicles and services by economic agents. The estimated income elasticity of 1.182 suggests that Imported Crude Oil consumption grows at a higher rate than income. This in turn reduces Oil intensity over time. Therefore, Crude Oil import during the estimation period is substantially driven by income.
Jungho Baek - One of the best experts on this subject based on the ideXlab platform.
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do Oil price changes have symmetric or asymmetric effects on korea s demand for Imported Crude Oil
Energy Sources Part B-economics Planning and Policy, 2018Co-Authors: Chul Shin, Jungho Baek, Eunnyeong HeoAbstract:The existing literature on demand for Crude Oil in developed and developing countries typically assumes that the effects of Oil price changes are symmetric. In this paper, we use the nonlinear auto...
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assessing dynamics of Crude Oil import demand in korea
Economic Modelling, 2013Co-Authors: Hyun Kim, Jungho BaekAbstract:Although Korea was the world's seventh largest Oil consumer and fourth largest Oil importer, relatively little attention has been paid to empirical analyses of the Korean Crude Oil market. In this paper, we have attempted to expand the scope of previous literature by examining Korea's import demand for Crude Oil in a dynamic framework of cointegration. The empirical focus is on assessing the short- and long-run relationships among volume of Crude Oil import, economic growth and price of Imported Crude Oil in Korea. For this purpose, an autoregressive distributed lag (ARDL) approach is applied to quarterly data for 1986–2010. Results show that income level is a more powerful determinant of the long-run behavior of Korea's Crude Oil imports than Crude Oil price. In the short-run, on the other hand, Oil price is found to play a more important role in determining Crude Oil imports than income level.
Emmanuel Ziramba - One of the best experts on this subject based on the ideXlab platform.
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price and income elasticities of Crude Oil import demand in south africa a cointegration analysis
Energy Policy, 2010Co-Authors: Emmanuel ZirambaAbstract:Abstract 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.
Bao H Nguyen - One of the best experts on this subject based on the ideXlab platform.
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the relationship between global Oil price shocks and china s output a time varying analysis
Energy Economics, 2017Co-Authors: Jamie Cross, Bao H NguyenAbstract:We employ a class of time-varying Bayesian vector autoregressive (VAR) models on new standard dataset of China's GDP constructed by Chang et al. (2015) to examine the relationship between China's economic growth and global Oil market fluctuations between 1992Q1 and 2015Q3. We find that: (1) the time varying parameter VAR with stochastic volatility provides a better fit as compared to it's constant counterparts; (2) the impacts of intertemporal global Oil price shocks on China's output are often small and temporary in nature; (3) Oil supply and specific Oil demand shocks generally produce negative movements in China's GDP growth whilst Oil demand shocks tend to have positive effects; (4) domestic output shocks have no significant impact on price or quantity movements within the global Oil market. The results are generally robust to three commonly employed indicators of global economic activity: Kilian's global real economic activity index, the metal price index and the global industrial production index, and two alternative Oil price metrics: the US refiners' acquisition cost for Imported Crude Oil and the West Texas Intermediate price of Crude Oil.
Cheng Cheng - One of the best experts on this subject based on the ideXlab platform.
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domestic Oil and gas or Imported Oil and gas an energy return on investment perspective
Resources Conservation and Recycling, 2018Co-Authors: Cheng Cheng, Zhen Wang, Jianliang Wang, Mingming Liu, Xiaohang RenAbstract:Abstract Both domestic Oil and gas and Imported Oil and gas are essential to meet the enormous energy demand in China, which is incurred by its rapid economic growth. However, which is better than another? To address this issue, an energy return on investment (EROI) analysis, which is a useful method to evaluate the physical performance of an energy process, is applied. Besides, the EROIs time series of offshore domestic Oil and gas and onshore domestic Oil and gas are calculated, and the causes of the change tendency of EROIs time series are studied. The EROIs of Imported Oil and gas from different import countries are also calculated, laying the foundation for optimization of the import structure from an EROI perspective. Moreover, environmental inputs, which cause the externality of an energy process, are also studied. The results show that the EROIs of the entire domestic Oil and gas fluctuate between 8.5 and 12, and the EROIs of the Imported Oil and gas lie in the range between 2.9 and 9.5. We conclude that: 1) The EROIs of domestic Oil and gas is higher than those of Imported Oil and gas, indicating that domestic Oil and gas has a higher physical efficiency than Imported Oil and gas. 2) The change tendency of EROIs is influenced by the extractions of natural gas. Moreover, the EROIs of Imported Oil and gas are additionally related to Oil and gas prices. 3) From an EROI perspective, LNG and pipeline gas are better than Imported Crude Oil. Australia, Kazakhstan, and the USA should be prioritized for China to import LNG, pipeline gas, and Crude Oil respectively. 4) Environmental inputs reduce the EROIs. Therefore more caution should be paid on the reduction of environmental inputs.
