Dutch disease effect of oil price on agriculture sector: evidence from panel cointegration of oil exporting countries
This study aims to investigate the long-run relationship between oil price and value-added share of GDP of agriculture in 25 oil-exporting countries. We use the panel heterogeneous cointegration test and fully modified OLS (FMOLS), dynamic (OLS) and pooled mean group (PMG) methods to examine the lon...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
EconJournals
2018
|
| Online Access: | http://psasir.upm.edu.my/id/eprint/72347/ http://psasir.upm.edu.my/id/eprint/72347/1/Dutch%20disease%20effect%20of%20oil%20price%20on%20agriculture%20sector.pdf |
| _version_ | 1848857096058044416 |
|---|---|
| author | Abdlaziz, Rizgar Abdlkarim Niaz Ahmad, Mohd Naseem Slesman, Ly |
| author_facet | Abdlaziz, Rizgar Abdlkarim Niaz Ahmad, Mohd Naseem Slesman, Ly |
| author_sort | Abdlaziz, Rizgar Abdlkarim |
| building | UPM Institutional Repository |
| collection | Online Access |
| description | This study aims to investigate the long-run relationship between oil price and value-added share of GDP of agriculture in 25 oil-exporting countries. We use the panel heterogeneous cointegration test and fully modified OLS (FMOLS), dynamic (OLS) and pooled mean group (PMG) methods to examine the long-run effect of real oil price and real exchange rate on agriculture. The result of the Pedroni cointegration exposes the long-run relationship between the variables under study. Panel cointegration estimators show the negative and significant effect of oil price and exchange rate on agriculture value added. These results indicate the existence of the Dutch disease and de-agriculturalization in oil-exporting economies. The present study contributes to existing literature that concentrates on the Dutch disease and di-agriculturalization by analyzing the effect of real oil price and real exchange rate on the agricultural sector in the long- and short-run in developing oil-exporting countries. |
| first_indexed | 2025-11-15T11:52:07Z |
| format | Article |
| id | upm-72347 |
| institution | Universiti Putra Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T11:52:07Z |
| publishDate | 2018 |
| publisher | EconJournals |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | upm-723472020-05-14T08:29:19Z http://psasir.upm.edu.my/id/eprint/72347/ Dutch disease effect of oil price on agriculture sector: evidence from panel cointegration of oil exporting countries Abdlaziz, Rizgar Abdlkarim Niaz Ahmad, Mohd Naseem Slesman, Ly This study aims to investigate the long-run relationship between oil price and value-added share of GDP of agriculture in 25 oil-exporting countries. We use the panel heterogeneous cointegration test and fully modified OLS (FMOLS), dynamic (OLS) and pooled mean group (PMG) methods to examine the long-run effect of real oil price and real exchange rate on agriculture. The result of the Pedroni cointegration exposes the long-run relationship between the variables under study. Panel cointegration estimators show the negative and significant effect of oil price and exchange rate on agriculture value added. These results indicate the existence of the Dutch disease and de-agriculturalization in oil-exporting economies. The present study contributes to existing literature that concentrates on the Dutch disease and di-agriculturalization by analyzing the effect of real oil price and real exchange rate on the agricultural sector in the long- and short-run in developing oil-exporting countries. EconJournals 2018 Article PeerReviewed text en http://psasir.upm.edu.my/id/eprint/72347/1/Dutch%20disease%20effect%20of%20oil%20price%20on%20agriculture%20sector.pdf Abdlaziz, Rizgar Abdlkarim and Niaz Ahmad, Mohd Naseem and Slesman, Ly (2018) Dutch disease effect of oil price on agriculture sector: evidence from panel cointegration of oil exporting countries. International Journal of Energy Economics and Policy, 8 (5). 241 - 250. ISSN 2146-4553 https://www.econjournals.com/index.php/ijeep/article/view/6723 |
| spellingShingle | Abdlaziz, Rizgar Abdlkarim Niaz Ahmad, Mohd Naseem Slesman, Ly Dutch disease effect of oil price on agriculture sector: evidence from panel cointegration of oil exporting countries |
| title | Dutch disease effect of oil price on agriculture sector: evidence from panel cointegration of oil exporting countries |
| title_full | Dutch disease effect of oil price on agriculture sector: evidence from panel cointegration of oil exporting countries |
| title_fullStr | Dutch disease effect of oil price on agriculture sector: evidence from panel cointegration of oil exporting countries |
| title_full_unstemmed | Dutch disease effect of oil price on agriculture sector: evidence from panel cointegration of oil exporting countries |
| title_short | Dutch disease effect of oil price on agriculture sector: evidence from panel cointegration of oil exporting countries |
| title_sort | dutch disease effect of oil price on agriculture sector: evidence from panel cointegration of oil exporting countries |
| url | http://psasir.upm.edu.my/id/eprint/72347/ http://psasir.upm.edu.my/id/eprint/72347/ http://psasir.upm.edu.my/id/eprint/72347/1/Dutch%20disease%20effect%20of%20oil%20price%20on%20agriculture%20sector.pdf |