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| 1 |
ID:
065763
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| 2 |
ID:
059166
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| 3 |
ID:
088216
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| Publication |
2009.
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| Summary/Abstract |
This paper investigates the nexus between economic growth and oil price in small Pacific Island countries (PICs). Except Papua New Guinea, none of the 14 PICs has fossil any fuel resources. Consequently, the other 13 PICs are totally dependent on oil imports for their economic activities. Since PICs have limited foreign exchange earning capacities, as they have a very narrow range of exports and are highly dependent on foreign aid, high oil prices in recent months have seriously tested their economic resilience. This paper applies the ARDL bounds testing methodology to four selected PICs, Samoa, Solomon Islands, Tonga and Vanuatu, which have consistent and reliable time series of data, with a view to assess the impact of oil price on economic growth. The findings are that oil price, gross domestic product and international reserve are cointegrated in all the four PICs. Further, both in the long and short runs, we observe that there is a uni-directional relationship as causality linkage runs only from oil price and international reserves to economic growth. The paper makes some policy recommendations.
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| 4 |
ID:
133244
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| Publication |
2014.
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| Summary/Abstract |
Environmental degradation has become a central issue of discussion among the economists and environmentalists. In view of Malaysia's position as one of the main contributors to CO2 emissions in Asia and its status as a fast growing economy, it is vital, therefore, to conduct a study to identify the relationship between economic growth and CO2 emissions for Malaysia. This study attempts to examine empirically the environmental Kuznets curve hypothesis for Malaysia in the presence of foreign direct investment and trade openness both in the short- and long-run for the period 1970 to 2008.The bounds testing approach and Granger causality methodology are applied to test the interrelationships of the variables. The results of our study indicate that the inverted-U shaped relationship does exist between economic growth and CO2 emission in both the short- and long-run for Malaysia after controlling for two additional explanatory variables, namely FDI and trade. Importantly, the results of the study also provide some crucial policy recommendations to the policy makers.
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