THE IMPACT OF WORLD ENERGY PRICE VOLATILITY ON AGGREGATE ECONOMIC ACTIVITY IN DEVELOPING ASIAN ECONOMIES
This paper analyzes the impact of volatility in the world energy price on aggregate economic activity in an unbalanced panel data framework for 10 developing Asian countries: Bangladesh, PR China, India, Indonesia, Malaysia, Pakistan, the Philippines, Thailand, Turkey and Vietnam. We use both the re...
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| Veröffentlicht in: | Singapore economic review 2015-03, Vol.60 (1), p.1550009-1-1550009-20 |
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| creator | BILGIN, MEHMET HUSEYIN GOZGOR, GIRAY KARABULUT, GOKHAN |
| description | This paper analyzes the impact of volatility in the world energy price on aggregate economic activity in an unbalanced panel data framework for 10 developing Asian countries: Bangladesh, PR China, India, Indonesia, Malaysia, Pakistan, the Philippines, Thailand, Turkey and Vietnam. We use both the realized volatility and the generalized autoregressive conditional heteroskedasticity models to measure the volatility in the world energy price. Empirical findings from dynamic panel data estimations show that the volatility in world energy price is negatively associated with the aggregate economic activity. Using the common correlated effects panel estimation techniques, we also systematically examine uncertain transmission channel of the world energy price volatility on the aggregate economic activity in each economy and obtain the most impressive negative effects in Turkey, PR China and India, respectively. |
| doi_str_mv | 10.1142/S0217590815500095 |
| format | Article |
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We use both the realized volatility and the generalized autoregressive conditional heteroskedasticity models to measure the volatility in the world energy price. Empirical findings from dynamic panel data estimations show that the volatility in world energy price is negatively associated with the aggregate economic activity. Using the common correlated effects panel estimation techniques, we also systematically examine uncertain transmission channel of the world energy price volatility on the aggregate economic activity in each economy and obtain the most impressive negative effects in Turkey, PR China and India, respectively.</description><identifier>ISSN: 0217-5908</identifier><identifier>EISSN: 1793-6837</identifier><identifier>DOI: 10.1142/S0217590815500095</identifier><language>eng</language><publisher>World Scientific Publishing Company</publisher><subject>Asia ; Bangladesh ; China ; Economic activity ; Energy ; Energy policy ; Energy prices ; Generalization ; India ; Indonesia ; Malaysia ; Pakistan ; Philippines ; Thailand ; Turkey ; Uncertainty ; Volatility</subject><ispartof>Singapore economic review, 2015-03, Vol.60 (1), p.1550009-1-1550009-20</ispartof><rights>2015, World Scientific Publishing Company</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c3675-f08cb02d89991dc2af5a22467b82473070db21104058ce5a0687e77f82c0e8363</citedby><cites>FETCH-LOGICAL-c3675-f08cb02d89991dc2af5a22467b82473070db21104058ce5a0687e77f82c0e8363</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><link.rule.ids>314,776,780,27901,27902</link.rule.ids></links><search><creatorcontrib>BILGIN, MEHMET HUSEYIN</creatorcontrib><creatorcontrib>GOZGOR, GIRAY</creatorcontrib><creatorcontrib>KARABULUT, GOKHAN</creatorcontrib><title>THE IMPACT OF WORLD ENERGY PRICE VOLATILITY ON AGGREGATE ECONOMIC ACTIVITY IN DEVELOPING ASIAN ECONOMIES</title><title>Singapore economic review</title><description>This paper analyzes the impact of volatility in the world energy price on aggregate economic activity in an unbalanced panel data framework for 10 developing Asian countries: Bangladesh, PR China, India, Indonesia, Malaysia, Pakistan, the Philippines, Thailand, Turkey and Vietnam. We use both the realized volatility and the generalized autoregressive conditional heteroskedasticity models to measure the volatility in the world energy price. Empirical findings from dynamic panel data estimations show that the volatility in world energy price is negatively associated with the aggregate economic activity. Using the common correlated effects panel estimation techniques, we also systematically examine uncertain transmission channel of the world energy price volatility on the aggregate economic activity in each economy and obtain the most impressive negative effects in Turkey, PR China and India, respectively.</description><subject>Asia</subject><subject>Bangladesh</subject><subject>China</subject><subject>Economic activity</subject><subject>Energy</subject><subject>Energy policy</subject><subject>Energy prices</subject><subject>Generalization</subject><subject>India</subject><subject>Indonesia</subject><subject>Malaysia</subject><subject>Pakistan</subject><subject>Philippines</subject><subject>Thailand</subject><subject>Turkey</subject><subject>Uncertainty</subject><subject>Volatility</subject><issn>0217-5908</issn><issn>1793-6837</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2015</creationdate><recordtype>article</recordtype><recordid>eNplkL1OwzAURi0EElXpA7B5ZAlcO3HsjFHqppbSuEpDUacodR0RqX_EVIi3p1GBpdMdzjl3-BB6JPBMSEBfFkAJZxEIwhgAROwGDQiPfC8UPr9Fgx57Pb9HI-faNUAQBkwIMUDv5VRiNZvHSYn1BL_pIhtjmcsiXeF5oRKJlzqLS5WpcoV1juM0LWQalxLLROd6phJ8TtWyxyrHY7mUmZ6rPMXxQsX5nyUXD-iuqbfOjn7vEL1OZJlMvUynKokzz_ghZ14DwqyBbkQURWRjaN2wmtIg5GtBA-4Dh82aEgIBMGEsqyEU3HLeCGrACj_0h-jp8vfYHT5O1n1Wu9YZu93We3s4uYqEAggHn7KzSi6q6Q7Odbapjl27q7vvikDVD1tdDXtu4NJ8HbrtxpnW7j_bpjX_6XXyA345b6o</recordid><startdate>201503</startdate><enddate>201503</enddate><creator>BILGIN, MEHMET HUSEYIN</creator><creator>GOZGOR, GIRAY</creator><creator>KARABULUT, GOKHAN</creator><general>World Scientific Publishing Company</general><scope>AAYXX</scope><scope>CITATION</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope></search><sort><creationdate>201503</creationdate><title>THE IMPACT OF WORLD ENERGY PRICE VOLATILITY ON AGGREGATE ECONOMIC ACTIVITY IN DEVELOPING ASIAN ECONOMIES</title><author>BILGIN, MEHMET HUSEYIN ; GOZGOR, GIRAY ; KARABULUT, GOKHAN</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c3675-f08cb02d89991dc2af5a22467b82473070db21104058ce5a0687e77f82c0e8363</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2015</creationdate><topic>Asia</topic><topic>Bangladesh</topic><topic>China</topic><topic>Economic activity</topic><topic>Energy</topic><topic>Energy policy</topic><topic>Energy prices</topic><topic>Generalization</topic><topic>India</topic><topic>Indonesia</topic><topic>Malaysia</topic><topic>Pakistan</topic><topic>Philippines</topic><topic>Thailand</topic><topic>Turkey</topic><topic>Uncertainty</topic><topic>Volatility</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>BILGIN, MEHMET HUSEYIN</creatorcontrib><creatorcontrib>GOZGOR, GIRAY</creatorcontrib><creatorcontrib>KARABULUT, GOKHAN</creatorcontrib><collection>CrossRef</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><jtitle>Singapore economic review</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>BILGIN, MEHMET HUSEYIN</au><au>GOZGOR, GIRAY</au><au>KARABULUT, GOKHAN</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>THE IMPACT OF WORLD ENERGY PRICE VOLATILITY ON AGGREGATE ECONOMIC ACTIVITY IN DEVELOPING ASIAN ECONOMIES</atitle><jtitle>Singapore economic review</jtitle><date>2015-03</date><risdate>2015</risdate><volume>60</volume><issue>1</issue><spage>1550009</spage><epage>1-1550009-20</epage><pages>1550009-1-1550009-20</pages><issn>0217-5908</issn><eissn>1793-6837</eissn><abstract>This paper analyzes the impact of volatility in the world energy price on aggregate economic activity in an unbalanced panel data framework for 10 developing Asian countries: Bangladesh, PR China, India, Indonesia, Malaysia, Pakistan, the Philippines, Thailand, Turkey and Vietnam. We use both the realized volatility and the generalized autoregressive conditional heteroskedasticity models to measure the volatility in the world energy price. Empirical findings from dynamic panel data estimations show that the volatility in world energy price is negatively associated with the aggregate economic activity. Using the common correlated effects panel estimation techniques, we also systematically examine uncertain transmission channel of the world energy price volatility on the aggregate economic activity in each economy and obtain the most impressive negative effects in Turkey, PR China and India, respectively.</abstract><pub>World Scientific Publishing Company</pub><doi>10.1142/S0217590815500095</doi></addata></record> |
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| ispartof | Singapore economic review, 2015-03, Vol.60 (1), p.1550009-1-1550009-20 |
| issn | 0217-5908 1793-6837 |
| language | eng |
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| source | Business Source Complete |
| subjects | Asia Bangladesh China Economic activity Energy Energy policy Energy prices Generalization India Indonesia Malaysia Pakistan Philippines Thailand Turkey Uncertainty Volatility |
| title | THE IMPACT OF WORLD ENERGY PRICE VOLATILITY ON AGGREGATE ECONOMIC ACTIVITY IN DEVELOPING ASIAN ECONOMIES |
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