The Price and Income Elasticities of Oil Demand in the Industrial Sector: The Case of OECD Countries
Yükleniyor...
Tarih
2017
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Ahmet Yesevi Univ
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
The determination of an important energy source of oil demand elasticity plays a role in measuring the impact on the design of appropriate energy policy and energy demand of these policies. The purpose of this study is to estimate price and income elasticities of industrial oil demand in OECD countries for the period 1997-2013. Firstly, the literature relating sectoral energy consumption in OECD countries were reviewed. And then, the determinant of sectoral energy consumption in OECD countries was discussed. We examined the energy demand models in the relevant literature to create an empirical analysis framework. We use dynamic panel data methods to estimate industrial oil demand elasticities in OECD countries after determining the appropriate model. According to the results, the demand for energy in the industrial sector of the 1% increase in oil prices, while reducing the rate of 1.76%, oil consumption of an increase of 1% will occur in the industrial production index also shows that increased by 1.34%. According to these results, in terms of price and income elasticity, demand for oil in the industrial sector in OECD countries is elastic.
Açıklama
Anahtar Kelimeler
Energy, energy consumption, oil demand, industrial sector, price and income elasticities, dynamic panel data approach
Kaynak
Bilig
WoS Q Değeri
Q4
Scopus Q Değeri
Q3
Cilt
Sayı
83
Künye
Çoban O., Kılınç N. Ş., Kılınç E. C. (2017). Sanayi Sektöründe Petrol Talebinin Fiyat ve Gelir Esneklikleri: OECD Ülkeleri Örneği. Bilig / Türk Dünyası Sosyal Bilimler Dergisi, 0(83), 259 - 279.
