| Summary: | 碩士 === 銘傳大學 === 經濟學系碩士班 === 96 === Applying panel data of 14 OECD countries over 1980-2000 periods, this study aims to explore the relationship between the outputs of automobile industry and oil price. This study uses the feasible generalized least squares (FGLS) model to modify the possible bias caused by heteroskedasticity and autocorrelation, and examines the impact of production factors with lag one on the outputs of automobile industry. The results indicate that labor force and disposable income per capita have significantly positive impacts on the outputs of automobile industry, where tax rate, unemployment rate and oil price are negatively related to the outputs of automobile industry. In addition, investments also have negative impacts on the outputs of automobile industry, which shows support with productivity paradox argued by Roach (1987).
Inconsistent with the expectation, there is a negative relationship between exchange rate and the outputs of automobile industry, which may because the effect of increasing manufacturing costs is much stronger than other advantageous effects for exporting when exchange rate rises.
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