The dynamic relationship between the US GDP, imports and domestic production of crude oil
This article investigates the dynamic relationship between crude oil imports, gross domestic product (GDP) and domestic crude oil production of the United States using a Vector Error Correction model estimation, generalized impulse response functions, persistence profile and variance decompositions. This article results suggest that the GDP has a leading role in determining oil imports.
Document Type: Research Article
Affiliations: Department of Finance and Economics, King Fahd University of Petroleum and Minerals, Dhahran 31261, Saudi Arabia
Publication date: 01 November 2009
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