Effects of oil price shocks on the economic sectors in Malaysia
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2014
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my.unimap-354632014-06-13T09:05:44Z Effects of oil price shocks on the economic sectors in Malaysia Mohd. Shahidan, Shaari Tan, Lee Pei Hafizah, Abdul Rahim shahidanshaari@unimap.edu.my pui_tlp@yahoo.com hafizahrahim@unimap.edu.my Agricultural Manufacturing and construction sectors Oil price Link to publisher's homepage at http://www.econjournals.com/ This paper aims to examine the effects of oil price shocks on economic sectors in Malaysia. A unit root test was conducted, in which data were shown to be non-stationary in all levels, and stationary in the first difference for all variables. The co-integration model was applied, and the results indicated that one co-integrating equation exists, suggesting the long-term effects of oil prices on the agriculture, construction, manufacturing, and transportation sectors. Finally, Grange causality test was performed, and the results implied that in Malaysia, oil price shocks can affect agriculture, similar to Hanson et al. (2010). Oil price instability also influences the performance of the agriculture sector, contrary to the results of Alper and Torul (2009). In addition, the construction sector was found to be dependent on oil prices. Therefore, the current study has an important implication for the Malaysian government in formulating policies on oil prices. The Malaysian government needs to control the price to ensure that unstable price will not harm the agriculture, manufacturing, and construction sectors. 2014-06-13T09:05:44Z 2014-06-13T09:05:44Z 2013 Article International Journal of Energy Economics and Policy, vol. 3(4), 2013, pages 360-366 2146-4553 http://www.econjournals.com/index.php/ijeep/article/view/538 http://dspace.unimap.edu.my:80/dspace/handle/123456789/35463 en EconJournals |
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Universiti Malaysia Perlis |
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UniMAP Library |
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Institutional Repository |
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Asia |
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Malaysia |
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Universiti Malaysia Perlis |
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http://dspace.unimap.edu.my/ |
| language |
English |
| topic |
Agricultural Manufacturing and construction sectors Oil price |
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Agricultural Manufacturing and construction sectors Oil price Mohd. Shahidan, Shaari Tan, Lee Pei Hafizah, Abdul Rahim Effects of oil price shocks on the economic sectors in Malaysia |
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Link to publisher's homepage at http://www.econjournals.com/ |
| author2 |
shahidanshaari@unimap.edu.my |
| author_facet |
shahidanshaari@unimap.edu.my Mohd. Shahidan, Shaari Tan, Lee Pei Hafizah, Abdul Rahim |
| format |
Article |
| author |
Mohd. Shahidan, Shaari Tan, Lee Pei Hafizah, Abdul Rahim |
| author_sort |
Mohd. Shahidan, Shaari |
| title |
Effects of oil price shocks on the economic sectors in Malaysia |
| title_short |
Effects of oil price shocks on the economic sectors in Malaysia |
| title_full |
Effects of oil price shocks on the economic sectors in Malaysia |
| title_fullStr |
Effects of oil price shocks on the economic sectors in Malaysia |
| title_full_unstemmed |
Effects of oil price shocks on the economic sectors in Malaysia |
| title_sort |
effects of oil price shocks on the economic sectors in malaysia |
| publisher |
EconJournals |
| publishDate |
2014 |
| url |
http://dspace.unimap.edu.my:80/dspace/handle/123456789/35463 |
| _version_ |
1643797806482194432 |
| score |
13.214268 |