IMPACTS OF INTERNATIONAL OIL PRICE CHANGES ON VIETNAM’S ECONOMY - AN INPUT-OUTPUT STUDY
Journal Title: Asian Economic and Financial Review - Year 2014, Vol 4, Issue 4
Abstract
In this paper we investigate the impacts of international oil price changes on Vietnam?s economy by using an input-output analysis. The goals of our study are: 1. establishing a price sub-model and output sub-model in the input-output analysis framework; 2. analyzing impacts on both price and output sectors. The result shows that impact in the long run is much higher than in the short run. While the 10% increase in petroleum prices experiences negative results, the 5% increase in prices shows a positive effect, implying that a small change in oil prices may enjoy resource reallocation efficiency. In the short run the manufacturing sector will suffer if electricity and public utility prices reflect a 10% increase in oil prices.
Authors and Affiliations
Nguyen Van Chung| PHD, Business Program, Chung Yuan University, Chung Li, Taiwan
Keywords
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