Show simple item record

Can Cheap Oil Hurt Net Importers? Evidence from the Philippines

dc.contributor.authorArlan Z.I. Brucal
dc.contributor.authorMichael R.M. Abrigo
dc.contributor.editorCelia M. Reyes
dc.date.accessioned2017-11-29T19:13:15Z
dc.date.available2017-11-29T19:13:15Z
dc.date.issued2017-06-15
dc.identifier.issn2508-0954
dc.identifier.issn2508-0849 (electronic)
dc.identifier.urihttp://hdl.handle.net/11540/7657
dc.description.abstractConventional wisdom suggests that oil price increases have a negative effect on the output of oil-importing countries. This is grounded on the experience of the United States between the 1940s and the late 1980s, where recessions were generally preceded by oil price increases. This paper evaluates the impact of oil price shocks on the Philippines—a developing country and a net oil-importing economy. Following Kilian’s (2008) structural decomposition of real oil price change, we find indications that the 2008–2009 and 2014–2015 oil price drops may have lowered the Philippine economy’s output growth, potentially due to the economy’s reliance on remittances from abroad and the export market.
dc.languageEnglish
dc.publisherPhilippine Institute for Development Studies
dc.titleCan Cheap Oil Hurt Net Importers? Evidence from the Philippines
dc.typeReports
dc.subject.expertSocial condition
dc.subject.expertEconomic dependence
dc.subject.expertEconomic assistance
dc.subject.expertInternational monetary relations
dc.subject.expertInternational monetary relations
dc.subject.expertInternational trade
dc.subject.expertNational accounting
dc.subject.expertMarket
dc.subject.expertPetroleum Refineries
dc.subject.expertPetroleum Products
dc.subject.expertPetroleum Prices
dc.subject.expertPetroleum
dc.subject.expertCrude Oil
dc.subject.expertPetrochemical Industry
dc.subject.expertExport Oriented Industries
dc.subject.adbMacroeconomic
dc.subject.adbMacroeconomic Analysis
dc.subject.adbMacroeconomic Framework
dc.subject.adbMacroeconomic Models
dc.subject.adbMacroeconomic Performance
dc.subject.adbMacroeconomic Planning
dc.subject.adbMacroeconomic
dc.subject.adbPolicies
dc.subject.adbMacroeconomic Reform
dc.subject.adbMacroeconomic Stabilization
dc.subject.adbOil and Gas Industry
dc.subject.adbDevelopment cooperation
dc.subject.adbPetroleum Industry
dc.subject.adbTransport Industry
dc.subject.naturalExchange
dc.subject.naturalComparative economics
dc.subject.naturalIndex number
dc.subject.naturalMonetary policy
dc.subject.naturalValue analysis
dc.subject.naturalAdjustment cost
dc.subject.naturalTransaction cost
dc.subject.naturalConditionality
dc.subject.naturalInternational relations
dc.subject.naturalOil refineries
dc.subject.naturalGasoline
dc.subject.naturalOil
dc.title.seriesPhilippine Journal of Development
dc.title.volumeVolume 43 No. 1
dc.contributor.imprintPhilippine Institute for Development Studies
oar.themeEconomics
oar.themeIndustry
oar.adminregionSoutheast Asia Region
oar.countryPhilippines
oar.identifierOAR-007258
oar.authorBrucal, Arlan Z.I.
oar.authorAbrigo, Michael R.M.
oar.importTRUE
oar.googlescholar.linkpresenttrue


Files in this item

Thumbnail

This item appears in the following Collection(s)

Show simple item record