@article{Azman Aziz_Dahalan_2015, title={The Impacts of Oil Price Fluctuations on Revealed Comparative Advantage of Manufacturing Commodities for ASEAN-5 Economies}, volume={5}, url={https://econjournals.com/index.php/ijeep/article/view/1461}, abstractNote={<p>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. </p><p><strong>Keywords:</strong> Revealed Comparative Advantage; Oil Price Shocks; International Trade</p><p><strong>JEL Classifications:</strong> C33; F11; N50</p>}, number={4}, journal={International Journal of Energy Economics and Policy}, author={Azman Aziz, Mukhriz Izraf and Dahalan, Jauhari}, year={2015}, month={Oct.}, pages={1098–1108} }