The Impacts of Oil Price Fluctuations on Revealed Comparative Advantage of Manufacturing Commodities for ASEAN-5 Economies


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Authors

  • Mukhriz Izraf Azman Aziz UNIVERSITI UTARA MALAYSIA
  • Jauhari Dahalan

Abstract

This paper attempts to quantify the effects of oil price fluctuations on revealed symmetric comparative advantage (RSCA) for 95 manufacturing commodities of 5 ASEAN countries from 1991 to 2012. Using Zellner's (1962) seemingly unrelated regression (SURE) model, oil price fluctuations negatively affect RSCA of more than 60% of the manufacturing commodities estimated. This is true especially for low-technology (LT1 & LT2) and medium-technology (MT3) commodities. The paper also found that endowment variables such as labour and capital stock significantly affects RSCA for more than 50% of the equations, giving support to Ricardian  and Heckscher-Ohlin theorem of comparative advantage. Keywords: Revealed Comparative Advantage; Oil Price Shocks; International TradeJEL Classifications: C33; F11; N50

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Author Biography

Mukhriz Izraf Azman Aziz, UNIVERSITI UTARA MALAYSIA

ECONOMICS, SENIOR LECTURER

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Published

2015-10-14

How to Cite

Azman Aziz, M. I., & Dahalan, J. (2015). The Impacts of Oil Price Fluctuations on Revealed Comparative Advantage of Manufacturing Commodities for ASEAN-5 Economies. International Journal of Energy Economics and Policy, 5(4), 1098–1108. Retrieved from https://econjournals.com/index.php/ijeep/article/view/1461

Issue

Vol. 5 No. 4 (2015)

Section

Articles

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