An Empirical Analysis of Relative Oil Price Shocks and Chinese Net Processing Exports

Ping Ma; Wei Yang Diao

doi:10.4028/www.scientific.net/AMR.347-353.3098

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HomeAdvanced Materials ResearchAdvanced Materials Research Vols. 347-353An Empirical Analysis of Relative Oil Price Shocks...

An Empirical Analysis of Relative Oil Price Shocks and Chinese Net Processing Exports

Abstract:

This paper studies the effects of Chinese relative domestic oil prices on net processing exports. Using a set of monthly data ranging from 2002 to 2008, we identify a long-run equilibrium cointegrating relationship between the two inflationary series. The unidirectional short-run Granger causality is running from relative oil prices to net processing exports, while in the long-run, the Granger causality is bidirectional. What is noteworthy is that relative oil price shocks have long-run positive effects on Chinese net processing exports, indicating the existence of an energy cost-driven mechanism of endogenous technological change.

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Periodical:

Advanced Materials Research (Volumes 347-353)

Pages:

3098-3102

DOI:

https://doi.org/10.4028/www.scientific.net/AMR.347-353.3098

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Online since:

October 2011

Authors:

Ping Ma, Wei Yang Diao

Keywords:

Co-Integration, Granger Non-Causality, Oil Price Shocks, Processing Trade, Vector Error Correction Model

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