Do crude oil price changes affect economic growth of India, Pakistan and Bangladesh? : A multivariate time series analysis
This paper analyzes empirically the effect of crude oil price change on the economic growth of Indian-Subcontinent (India, Pakistan and Bangladesh). We use a multivariate Vector Autoregressive analysis followed by Wald Granger causality test and Impulse Response Function (IRF). Wald Granger causalit...
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ndltd-UPSALLA1-oai-DiVA.org-du-107232013-01-08T13:43:46ZDo crude oil price changes affect economic growth of India, Pakistan and Bangladesh? : A multivariate time series analysisengAkram, MuhammadHögskolan Dalarna, Nationalekonomi2012Oil price shocksEconomic growthVector AutoregressiveImpulse response functionWald Granger causality testThis paper analyzes empirically the effect of crude oil price change on the economic growth of Indian-Subcontinent (India, Pakistan and Bangladesh). We use a multivariate Vector Autoregressive analysis followed by Wald Granger causality test and Impulse Response Function (IRF). Wald Granger causality test results show that only India’s economic growth is significantly affected when crude oil price decreases. Impact of crude oil price increase is insignificantly negative for all three countries during first year. In second year, impact is negative but smaller than first year for India, negative but larger for Bangladesh and positive for Pakistan. Student thesisinfo:eu-repo/semantics/bachelorThesistexthttp://urn.kb.se/resolve?urn=urn:nbn:se:du-10723application/pdfinfo:eu-repo/semantics/openAccess |
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English |
format |
Others
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Oil price shocks Economic growth Vector Autoregressive Impulse response function Wald Granger causality test |
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Oil price shocks Economic growth Vector Autoregressive Impulse response function Wald Granger causality test Akram, Muhammad Do crude oil price changes affect economic growth of India, Pakistan and Bangladesh? : A multivariate time series analysis |
description |
This paper analyzes empirically the effect of crude oil price change on the economic growth of Indian-Subcontinent (India, Pakistan and Bangladesh). We use a multivariate Vector Autoregressive analysis followed by Wald Granger causality test and Impulse Response Function (IRF). Wald Granger causality test results show that only India’s economic growth is significantly affected when crude oil price decreases. Impact of crude oil price increase is insignificantly negative for all three countries during first year. In second year, impact is negative but smaller than first year for India, negative but larger for Bangladesh and positive for Pakistan. |
author |
Akram, Muhammad |
author_facet |
Akram, Muhammad |
author_sort |
Akram, Muhammad |
title |
Do crude oil price changes affect economic growth of India, Pakistan and Bangladesh? : A multivariate time series analysis |
title_short |
Do crude oil price changes affect economic growth of India, Pakistan and Bangladesh? : A multivariate time series analysis |
title_full |
Do crude oil price changes affect economic growth of India, Pakistan and Bangladesh? : A multivariate time series analysis |
title_fullStr |
Do crude oil price changes affect economic growth of India, Pakistan and Bangladesh? : A multivariate time series analysis |
title_full_unstemmed |
Do crude oil price changes affect economic growth of India, Pakistan and Bangladesh? : A multivariate time series analysis |
title_sort |
do crude oil price changes affect economic growth of india, pakistan and bangladesh? : a multivariate time series analysis |
publisher |
Högskolan Dalarna, Nationalekonomi |
publishDate |
2012 |
url |
http://urn.kb.se/resolve?urn=urn:nbn:se:du-10723 |
work_keys_str_mv |
AT akrammuhammad docrudeoilpricechangesaffecteconomicgrowthofindiapakistanandbangladeshamultivariatetimeseriesanalysis |
_version_ |
1716527190322970624 |