Oil Price Fluctuations and Changing Comparative Advantage

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Sosyoekonomi
Volume:20 Issue:20
Oil Price Fluctuations and Changing Comparative Advantage

Oil Price Fluctuations and Changing Comparative Advantage

Authors : Mukhriz AZIZ, Nor\`aznin BAKAR

Pages : 0-0

Doi:10.17233/se.96905

View : 10 | Download : 11

Publication Date : 2013-09-01

Article Type : Research Paper

Abstract :This paper attempts to quantify the effects of oil price fluctuations on revealed comparative advantage insert ignore into journalissuearticles values(RCA); for 36 manufacturing commodities of 167 countries over a 16-year period from 1990 to 2005. Using Zellner’s insert ignore into journalissuearticles values(1962); seemingly unrelated regression insert ignore into journalissuearticles values(SURE); model, the negative effects of oil price fluctuations on RCA vary according to objectives and model specification. Oil price fluctuations negatively affect manufacturing commodities’ RCA in 1997-2005 more than in 1990-1996 periods. The paper also found that oil price fluctuations negatively affect middle-income economies and net oil-exporting countries’ RCA more than high-income economies and net oil-importing countries.
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