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Applied Economics Volume 52, 2020 - Issue 45
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Research Article

The non-linear impact of oil price on the oil demand

Ming-Cheng Wua Department of Finance, National Changhua University of Education, Changhua, Taiwan
,
Andrew Yi-Hung Lianga Department of Finance, National Changhua University of Education, Changhua, Taiwan
,
Lori Tzu-Yi Yangb Department of Business and Management, Ming Chi University of Technology, New Taipei City, TaiwanCorrespondence[email protected]
&
Chin-Mei Chouc Department of Tourism Leisure and Health, Ching Kuo Institute of Management & Health, Keelung City, Taiwan
Pages 4992-5004 | Published online: 20 Apr 2020
 
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ABSTRACT

A panel smooth transition regression model was adopted to analyse the non-linear impact of oil prices on oil demand. Data for 42 countries was obtained from the International Energy Agency for the time period spanning from January 1990 to June 2017. The results indicate that a threshold value does exist. Furthermore, when the oil price was lower than this threshold value, a positive relationship between oil price and oil demand was observed. When the price of oil was higher than the threshold value, however, a negative relationship between price and demand was found.

JEL CLASSIFICATION:

Disclosure statement

No potential conflict of interest was reported by the authors.

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