Oil price shocks, economic policy uncertainty and industrial economic growth in China

This paper combines a Granger causality test and a VAR model to investigate the relationships among oil price shocks, global economic policy uncertainty (GEPU), and China’s industrial economic growth. Based on monthly data from 2000 to 2017, we reveal that GEPU and world oil prices jointly Granger c...

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Detalles Bibliográficos
Autores principales: Chen, Jingyu, Jin, Faqi, Ouyang, Guangda, Ouyang, Jian, Wen, Fenghua
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Public Library of Science 2019
Materias:
Research Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6510409/
https://www.ncbi.nlm.nih.gov/pubmed/31075134
http://dx.doi.org/10.1371/journal.pone.0215397
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author Chen, Jingyu
Jin, Faqi
Ouyang, Guangda
Ouyang, Jian
Wen, Fenghua
author_facet Chen, Jingyu
Jin, Faqi
Ouyang, Guangda
Ouyang, Jian
Wen, Fenghua
author_sort Chen, Jingyu
collection PubMed
description This paper combines a Granger causality test and a VAR model to investigate the relationships among oil price shocks, global economic policy uncertainty (GEPU), and China’s industrial economic growth. Based on monthly data from 2000 to 2017, we reveal that GEPU and world oil prices jointly Granger cause China's industrial economic growth; world oil prices have a positive effect on China's industrial economic growth, while GEPU has a negative effect. Further analyses investigate the asymmetry effect of oil prices and find that the negative component shows a more significant impact on China's industrial economic growth. The results are robust to different oil price and EPU proxies.
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spelling pubmed-65104092019-05-23 Oil price shocks, economic policy uncertainty and industrial economic growth in China Chen, Jingyu Jin, Faqi Ouyang, Guangda Ouyang, Jian Wen, Fenghua PLoS One Research Article This paper combines a Granger causality test and a VAR model to investigate the relationships among oil price shocks, global economic policy uncertainty (GEPU), and China’s industrial economic growth. Based on monthly data from 2000 to 2017, we reveal that GEPU and world oil prices jointly Granger cause China's industrial economic growth; world oil prices have a positive effect on China's industrial economic growth, while GEPU has a negative effect. Further analyses investigate the asymmetry effect of oil prices and find that the negative component shows a more significant impact on China's industrial economic growth. The results are robust to different oil price and EPU proxies. Public Library of Science 2019-05-10 /pmc/articles/PMC6510409/ /pubmed/31075134 http://dx.doi.org/10.1371/journal.pone.0215397 Text en © 2019 Chen et al http://creativecommons.org/licenses/by/4.0/ This is an open access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) , which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
spellingShingle Research Article
Chen, Jingyu
Jin, Faqi
Ouyang, Guangda
Ouyang, Jian
Wen, Fenghua
Oil price shocks, economic policy uncertainty and industrial economic growth in China
title Oil price shocks, economic policy uncertainty and industrial economic growth in China
title_full Oil price shocks, economic policy uncertainty and industrial economic growth in China
title_fullStr Oil price shocks, economic policy uncertainty and industrial economic growth in China
title_full_unstemmed Oil price shocks, economic policy uncertainty and industrial economic growth in China
title_short Oil price shocks, economic policy uncertainty and industrial economic growth in China
title_sort oil price shocks, economic policy uncertainty and industrial economic growth in china
topic Research Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6510409/
https://www.ncbi.nlm.nih.gov/pubmed/31075134
http://dx.doi.org/10.1371/journal.pone.0215397
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AT ouyangjian oilpriceshockseconomicpolicyuncertaintyandindustrialeconomicgrowthinchina
AT wenfenghua oilpriceshockseconomicpolicyuncertaintyandindustrialeconomicgrowthinchina

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