Measuring the economic impacts of recent oil price shocks on oil-dependent economy
Evidence from Malaysia
Bibliographic Data
| ID | 11193365 |
|---|---|
| Authors | Ibrahim Kabiru Maji (0000-0001-8988-8357, Sa'adu Zungur University), Mohd Yusof Saari (Universiti Putra Malaysia, corresponding author), Muzafar Shah Habibullah (0000-0002-2853-8019, Universiti Putra Malaysia), Chakrin Utit (0000-0002-7802-5684, Universiti Putra Malaysia) |
| Year | 2017 |
| Volume | 38 |
| Issue | 4 |
| Pages | 375-391 |
| Publication date | 2017-07-04 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Policy Studies (JOURNAL) |
| Journal identifiers | ISSN: 0144-2872 • E-ISSN: 1470-1006 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/01442872.2017.1320706 |
| OpenAlex | W2611353583 |
| Language | EN |
| Citations received | 1 |
| References cited | 18 |
This paper examines the economy-wide impacts of recent oil price shocks on the Malaysian economy. To achieve this objective, an integrated methodological framework that combines econometric and input–output models is utilized to assess the impacts of an oil price shock on tax revenues, employment, labor income and gross domestic product (GDP). Our results reveal that the recent oil price shocks significantly affects these macroeconomic variables. The decline in oil prices from 2015 to 2016 reduces tax revenues by 10.5%, lower GDP by 1.9% and increases the unemployment rate by 0.3%. As such, the sharp crunch in oil prices serves as a reminder to policymakers on the vulnerability inherent in overreliance on oil exports and the urgent need to diversify the economy
Crunch · Economics · Economy · Gross domestic product · Macroeconomics · Monetary economics · Oil price · Real gross domestic product · Revenue · Shock (circulatory · Tax revenue · Unemployment · Energy, Environment, and Transportation Policies · Energy, Environment, Economic Growth · Finance · Market Dynamics and Volatility
Input-Output Analysis
Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root
Testing for a unit root in time series regression
The impacts of petroleum price fluctuations on income distribution across ethnic groups in Malaysia
Sources of Income Growth and Inequality Across Ethnic Groups in Malaysia, 1970–2000
International Business Research
| Unique citing works | 1 |
|---|---|
| Citations per year | 0.25 |
| Citation span | 2022 - 2022 (1) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 1 |