Oil price shocks, economic policy uncertainty and industrial economic growth in China.

Oil price shocks, economic policy uncertainty and industrial economic growth in China.

This paper combines a Granger causality test and a VAR model to investigate the relationships among oil price shocks, global economic policy uncertainty (GEPU), and China's industrial economic growth. Based on monthly data from 2000 to 2017, we reveal that GEPU and world oil prices jointly Gran...

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Main Authors: Jingyu Chen, Faqi Jin, Guangda Ouyang, Jian Ouyang, Fenghua Wen
Format: Article
Language:English
Published: Public Library of Science (PLoS) 2019-01-01
Series:PLoS ONE
Online Access:https://doi.org/10.1371/journal.pone.0215397
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spelling doaj-0a33dfe1317746d49b028fea7fcca6a62021-03-03T20:41:19ZengPublic Library of Science (PLoS)PLoS ONE1932-62032019-01-01145e021539710.1371/journal.pone.0215397Oil price shocks, economic policy uncertainty and industrial economic growth in China.Jingyu ChenFaqi JinGuangda OuyangJian OuyangFenghua WenThis paper combines a Granger causality test and a VAR model to investigate the relationships among oil price shocks, global economic policy uncertainty (GEPU), and China's industrial economic growth. Based on monthly data from 2000 to 2017, we reveal that GEPU and world oil prices jointly Granger cause China's industrial economic growth; world oil prices have a positive effect on China's industrial economic growth, while GEPU has a negative effect. Further analyses investigate the asymmetry effect of oil prices and find that the negative component shows a more significant impact on China's industrial economic growth. The results are robust to different oil price and EPU proxies.https://doi.org/10.1371/journal.pone.0215397
collection DOAJ
language English
format Article
sources DOAJ
author Jingyu Chen
Faqi Jin
Guangda Ouyang
Jian Ouyang
Fenghua Wen
spellingShingle Jingyu Chen
Faqi Jin
Guangda Ouyang
Jian Ouyang
Fenghua Wen
Oil price shocks, economic policy uncertainty and industrial economic growth in China.
PLoS ONE
author_facet Jingyu Chen
Faqi Jin
Guangda Ouyang
Jian Ouyang
Fenghua Wen
author_sort Jingyu Chen
title Oil price shocks, economic policy uncertainty and industrial economic growth in China.
title_short Oil price shocks, economic policy uncertainty and industrial economic growth in China.
title_full Oil price shocks, economic policy uncertainty and industrial economic growth in China.
title_fullStr Oil price shocks, economic policy uncertainty and industrial economic growth in China.
title_full_unstemmed Oil price shocks, economic policy uncertainty and industrial economic growth in China.
title_sort oil price shocks, economic policy uncertainty and industrial economic growth in china.
publisher Public Library of Science (PLoS)
series PLoS ONE
issn 1932-6203
publishDate 2019-01-01
description This paper combines a Granger causality test and a VAR model to investigate the relationships among oil price shocks, global economic policy uncertainty (GEPU), and China's industrial economic growth. Based on monthly data from 2000 to 2017, we reveal that GEPU and world oil prices jointly Granger cause China's industrial economic growth; world oil prices have a positive effect on China's industrial economic growth, while GEPU has a negative effect. Further analyses investigate the asymmetry effect of oil prices and find that the negative component shows a more significant impact on China's industrial economic growth. The results are robust to different oil price and EPU proxies.
url https://doi.org/10.1371/journal.pone.0215397
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AT faqijin oilpriceshockseconomicpolicyuncertaintyandindustrialeconomicgrowthinchina
AT guangdaouyang oilpriceshockseconomicpolicyuncertaintyandindustrialeconomicgrowthinchina
AT jianouyang oilpriceshockseconomicpolicyuncertaintyandindustrialeconomicgrowthinchina
AT fenghuawen oilpriceshockseconomicpolicyuncertaintyandindustrialeconomicgrowthinchina
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