A panel data analysis of the determinants of oil consumption: the case of Australia

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Abstract

The goal of this paper is to examine the determinants of oil consumption for a panel consisting of six Australian States and one territory, namely Queensland, New South Wales, Victoria, Tasmania, South Australia, Western Australia, and the Northern territory, for the period 1985-2006. We find that oil consumption, oil prices and income are panel cointegrated. We estimate long-run elasticities and find that oil prices have had a statistically insignificant impact on oil consumption, while income has had a statistically significant positive effect on oil consumption.

Original languageEnglish
Pages (from-to)2771-2775
Number of pages5
JournalApplied Energy
Volume86
Issue number12
DOIs
Publication statusPublished - Dec 2009
Externally publishedYes

Keywords

  • Oil consumption
  • Panel cointegration

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