Economic Analysis on Petroleum Consumption
- Zhang-huang Ye, Qiang Yan, Xiao-jing Chen
- Corresponding Author
- Zhang-huang Ye
Available Online September 2016.
- https://doi.org/10.2991/ieesasm-16.2016.149How to use a DOI?
- Petroleum, price, consumption proportion, foreign dependence degree, economic growth
- With the real GDP growth of the world's three largest economies-China, USA and Japan as dependent variables while international petroleum price growth, proportion of petroleum consumption and dependence on foreign petroleum as independent variables, this paper will probe into the relationship between dependent variables and independent variables based on the econometric model. Upon the analysis, it shows that rising international oil price and heavy dependence on petroleum consumption exert a negative influence on China's GDP, but they have little effect or even a positive effect on USA's GDP and Japan's GDP, which illustrates that USA and Japan have been well rewarded by their investment and exploration of overseas petroleum resources for many years.
- Open Access
- This is an open access article distributed under the CC BY-NC license.
Cite this article
TY - CONF AU - Zhang-huang Ye AU - Qiang Yan AU - Xiao-jing Chen PY - 2016/09 DA - 2016/09 TI - Economic Analysis on Petroleum Consumption BT - 2016 4th International Education, Economics, Social Science, Arts, Sports and Management Engineering Conference (IEESASM 2016) PB - Atlantis Press SN - 2352-5428 UR - https://doi.org/10.2991/ieesasm-16.2016.149 DO - https://doi.org/10.2991/ieesasm-16.2016.149 ID - Ye2016/09 ER -