| ID | 101504 |
| Title Proper | Price and income elasticities of crude oil import demand in South Africa |
| Other Title Information | a cointegration analysis |
| Language | ENG |
| Author | Ziramba, Emmanuel |
| Publication | 2010. |
| Summary / Abstract (Note) | This paper examines the demand for imported crude oil in South Africa as a function of real income and the price of crude oil over the period 1980-2006. We carried out the Johansen co integration multivariate analysis to determine the long-run income and price elasticities. A unique long-run cointegration relationship exists between crude oil imports and the explanatory variables. The short-run dynamics are estimated by specifying a general error correction model. The estimated long-run price and income elasticities of ?0.147 and 0.429 suggest that import demand for crude oil is price and income inelastic. There is also evidence of unidirectional long-run causality running from real GDP to crude oil imports. |
| `In' analytical Note | Energy Policy Vol.38, No.12 ; Dec 2010: p7844-7849 |
| Journal Source | Energy Policy Vol.38, No.12 ; Dec 2010: p7844-7849 |
| Key Words | Crude Oil Import ; South Africa ; Cointegration |