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The Relationship Between Oil and Natural Gas Prices on the Malaysian Economic Sectors

This study has investigated the relationship between the changes in oil and natural gas prices on the Malaysian economic sectors. Four economic sectors were selected namely manufacturing, services, agriculture, and mining. However, there was less study conducted at the sector level. Hence, the goa...

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Main Authors: Mohd Khairul Amri, Kamarudin, Nur Surayya, Mohd Saudi, Wong, Hock Tsen, Abdul Latif, Harun
Format: Article
Language:English
Published: 2018
Subjects:
HB Economic Theory
Online Access:http://eprints.unisza.edu.my/5884/1/FH02-FSSG-19-23602.pdf
http://eprints.unisza.edu.my/5884/
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spelling my-unisza-ir.58842022-02-28T06:26:07Z http://eprints.unisza.edu.my/5884/ The Relationship Between Oil and Natural Gas Prices on the Malaysian Economic Sectors Mohd Khairul Amri, Kamarudin Nur Surayya, Mohd Saudi Wong, Hock Tsen Abdul Latif, Harun HB Economic Theory This study has investigated the relationship between the changes in oil and natural gas prices on the Malaysian economic sectors. Four economic sectors were selected namely manufacturing, services, agriculture, and mining. However, there was less study conducted at the sector level. Hence, the goal of this paper is to explore the impact of oil and gas prices on economic sectors GDP. This study has conducted econometrics modelling based on the ARDL bound testing with the spanning time series data from year 1987 to 2017. The empirical findings revealed that the relationship between the oil and natural gas prices in the manufacturing and services sector is negative, while the agriculture sector showed a positive relationship, and the mining sector showed no relationship. The empirical findings concluded that the manufacturing and services sectors that consumed more energy are dependent on the price changes. Meanwhile, the agriculture sector is a highly subsidised sector which has a positive relationship with energy prices. In the policy recommendation, Malaysia has to apply the energy pricing policy by offering energy subsidy to the high energy consumed sectors. Finally, Malaysia should develop policies that can diversify its energy resources and increase the shares of renewable energy sources. 2018-12 Article PeerReviewed text en http://eprints.unisza.edu.my/5884/1/FH02-FSSG-19-23602.pdf Mohd Khairul Amri, Kamarudin and Nur Surayya, Mohd Saudi and Wong, Hock Tsen and Abdul Latif, Harun (2018) The Relationship Between Oil and Natural Gas Prices on the Malaysian Economic Sectors. International Journal of Engineering & Technology, 7 (4). pp. 118-122. ISSN 2227-524X
institution Universiti Sultan Zainal Abidin
building UNISZA Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Sultan Zainal Abidin
content_source UNISZA Institutional Repository
url_provider https://eprints.unisza.edu.my/
language English
topic HB Economic Theory
spellingShingle HB Economic Theory
Mohd Khairul Amri, Kamarudin
Nur Surayya, Mohd Saudi
Wong, Hock Tsen
Abdul Latif, Harun
The Relationship Between Oil and Natural Gas Prices on the Malaysian Economic Sectors
description This study has investigated the relationship between the changes in oil and natural gas prices on the Malaysian economic sectors. Four economic sectors were selected namely manufacturing, services, agriculture, and mining. However, there was less study conducted at the sector level. Hence, the goal of this paper is to explore the impact of oil and gas prices on economic sectors GDP. This study has conducted econometrics modelling based on the ARDL bound testing with the spanning time series data from year 1987 to 2017. The empirical findings revealed that the relationship between the oil and natural gas prices in the manufacturing and services sector is negative, while the agriculture sector showed a positive relationship, and the mining sector showed no relationship. The empirical findings concluded that the manufacturing and services sectors that consumed more energy are dependent on the price changes. Meanwhile, the agriculture sector is a highly subsidised sector which has a positive relationship with energy prices. In the policy recommendation, Malaysia has to apply the energy pricing policy by offering energy subsidy to the high energy consumed sectors. Finally, Malaysia should develop policies that can diversify its energy resources and increase the shares of renewable energy sources.
format Article
author Mohd Khairul Amri, Kamarudin
Nur Surayya, Mohd Saudi
Wong, Hock Tsen
Abdul Latif, Harun
author_facet Mohd Khairul Amri, Kamarudin
Nur Surayya, Mohd Saudi
Wong, Hock Tsen
Abdul Latif, Harun
author_sort Mohd Khairul Amri, Kamarudin
title The Relationship Between Oil and Natural Gas Prices on the Malaysian Economic Sectors
title_short The Relationship Between Oil and Natural Gas Prices on the Malaysian Economic Sectors
title_full The Relationship Between Oil and Natural Gas Prices on the Malaysian Economic Sectors
title_fullStr The Relationship Between Oil and Natural Gas Prices on the Malaysian Economic Sectors
title_full_unstemmed The Relationship Between Oil and Natural Gas Prices on the Malaysian Economic Sectors
title_sort relationship between oil and natural gas prices on the malaysian economic sectors
publishDate 2018
url http://eprints.unisza.edu.my/5884/1/FH02-FSSG-19-23602.pdf
http://eprints.unisza.edu.my/5884/
_version_ 1726796967387856896
score 13.211869

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