Oil price shocks, economic policy uncertainty and industrial economic growth in China.
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Where this comes from
- Record sourced from PubMed, PMID 31075134.
- Also identified by DOI 10.1371/journal.pone.0215397 and PMC identifier 6510409.
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Abstract
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.
Medical subject headings
- Economic Development
- Petroleum