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Effects of oil price shocks on the economic sectors in Malaysia

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Main Authors: Mohd. Shahidan, Shaari, Tan, Lee Pei, Hafizah, Abdul Rahim
Other Authors: shahidanshaari@unimap.edu.my
Format: Article
Language:English
Published: EconJournals 2014
Subjects:
Agricultural
Manufacturing and construction sectors
Oil price
Online Access:http://dspace.unimap.edu.my:80/dspace/handle/123456789/35463
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spelling 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
institution Universiti Malaysia Perlis
building UniMAP Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Malaysia Perlis
content_source UniMAP Library Digital Repository
url_provider http://dspace.unimap.edu.my/
language English
topic Agricultural
Manufacturing and construction sectors
Oil price
spellingShingle 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
description 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 13.222552

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