This dissertation investigates the relationship between the real oil price, trade, population and real GDP on a yearly time series from 1960 to 2010 within a global framework. Initially, we carry out all the necessary preliminary econometric analysis. The results show that the order of integration is one and a cointegrated relationship between the variables. Continually, we implement a Vector Error Correction model, a Toda-Yamamoto and a Hsiao test for the investigation of linear causal linkages between the variables. Additionally, we conduct an investigation for the non-linear causal relationship with the implementations of Hiemstra & Jones and Dics & Panchenko test. The overall results show an unclear relationship for the real oil price and the real GDP. Furthermore, the linear results reveal significant unidirectional causal relationship from trade to real GDP, which was expected. On the other hand, the non-linear results show unidirectional causal linkages running from trade to real oil price.
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