Record Details

Oil Price and Real GDP Growth of Ecuador: A Vector Autoregressive Approach

Journal of Economics and Political Economy

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Field Value
 
Title Oil Price and Real GDP Growth of Ecuador: A Vector Autoregressive Approach
 
Creator PALADINES, Jesser; Universidad T├ęcnica de Machala
 
Subject Average oil price; GDP; VAR; Ecuador; Impulse response.
C32; 040; F20.
 
Description Abstract. Ecuador is an oil exporter country but it is also an importer of oil derivatives products, in this research the relationship between the world average price of oil and the GDP per capital of Ecuador is studied, taking annual data of both from 1980 to 2015 and using the methodology of Vector Autoregressive (VAR), it is concluded according to the Impulse Response Function that a positive shock on the price of oil affects positively the GDP growth of Ecuador for 2 unit times and then returns to its natural state later. This must be explained because Ecuador is a net exporter of oil, the VAR model showed itself stable, in addition it was demonstrated that there is a causal relationship of GDP to the Price according to methodology of Toda-Yamamoto.Keywords. Average Oil price, GDP, VAR, Ecuador.JEL. C32, 040, F20.
 
Publisher Journal of Economics and Political Economy
Journal of Economics and Political Economy
 
Contributor
 
Date 2017-02-25
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion


 
Format application/pdf
 
Identifier http://www.kspjournals.org/index.php/JEPE/article/view/1153
10.1453/jepe.v4i1.1153
 
Source Journal of Economics and Political Economy; Vol 4, No 1 (2017): March; 71-78
Journal of Economics and Political Economy; Vol 4, No 1 (2017): March; 71-78
2148-8347
 
Language eng
 
Relation http://www.kspjournals.org/index.php/JEPE/article/view/1153/1175
http://www.kspjournals.org/index.php/JEPE/article/downloadSuppFile/1153/510
http://www.kspjournals.org/index.php/JEPE/article/downloadSuppFile/1153/511
http://www.kspjournals.org/index.php/JEPE/article/downloadSuppFile/1153/512
http://www.kspjournals.org/index.php/JEPE/article/downloadSuppFile/1153/513
http://www.kspjournals.org/index.php/JEPE/article/downloadSuppFile/1153/514
 
Rights Copyright (c) 2017 Journal of Economics and Political Economy
http://creativecommons.org/licenses/by-nc/4.0