Economics, Econometrics and Finance
5 years ago

Malaysian economy benefits from positive relationship between oil prices and growth.

GATR Journal of Business and Economics Review
An ARDL Approach on Crude Oil Price and Macroeconomic Variables
Seuk Yen Phoong, Seuk Wai Phoong

Paper Summary

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The study looked at how changes in crude oil prices affect the Malaysian economy after the government removed fuel subsidies in 2014. By analyzing inflation, economic growth, and unemployment rates, the researchers found that inflation and economic growth are positively linked to oil prices, while unemployment rates decrease when oil prices go up. This suggests that high oil prices can lead to more job opportunities in Malaysia. The study used a method called ARDL to reach these conclusions.