Please use this identifier to cite or link to this item: https://hdl.handle.net/1959.11/54703
Title: Estimating the long-run crude oil demand function of China: Some new evidence and policy options
Contributor(s): Li, Sisi (author); Khan, Sufyan Ullah (author); Yao, Yao (author); Chen, George S  (author)orcid ; Zhang, Lin (author); Salim, Ruhul (author); Huo, Jiaying (author)
Publication Date: 2022-11
Early Online Version: 2022-09-22
DOI: 10.1016/j.enpol.2022.113244
Handle Link: https://hdl.handle.net/1959.11/54703
Abstract: 

China's remarkable economic progress over the past three decades has been complemented by massive energy consumption. Although coal has long been the primary energy source, the rise in crude oil use has been viewed as more contentious, because a large portion of crude oil is imported, whereas the economy is mostly self-sufficient in coal. We examine the role of R&D effort and self-sufficiency on China's oil import function from 1980 to 2020. Using the autoregressive distributed lag model, we find that the R&D effort raises oil imports in the long run. However, we find oil imports to be independent from self-sufficiency in the long run. We also find that China's accession to the World Trade Organization has significantly changed the cointegrating relationship in the oil import function. Our results suggest that the government should continue to incentivize energy-saving measures and fund research projects on renewable energy sources. Furthermore, deregulation in the oil market is quintessential to energy security and stable growth in the long run.

Publication Type: Journal Article
Source of Publication: Energy Policy, v.170, p. 1-11
Publisher: Elsevier Ltd
Place of Publication: United Kingdom
ISSN: 1873-6777
0301-4215
Fields of Research (FoR) 2020: 380105 Environment and resource economics
Socio-Economic Objective (SEO) 2020: 150299 Macroeconomics not elsewhere classified
Peer Reviewed: Yes
HERDC Category Description: C1 Refereed Article in a Scholarly Journal
Appears in Collections:Journal Article
UNE Business School

Files in This Item:
1 files
File SizeFormat 
Show full item record

SCOPUSTM   
Citations

2
checked on Jun 17, 2023
Google Media

Google ScholarTM

Check

Altmetric


Items in Research UNE are protected by copyright, with all rights reserved, unless otherwise indicated.