期刊名称：International Journal of Energy Economics and Policy
电子版ISSN：2146-4553
出版年度：2019
卷号：9
期号：4
页码：12-15
DOI：10.32479/ijeep.7763
出版社：EconJournals
摘要：Oil price movements and its macroeconomic effect may have deep effects on the oil exporting economy like Saudi Arabia in terms of personal
consumption and welfare derived from the consumption. This present research targets to isolate the relationship between oil price and personal
consumption per capita using a period 1970-2016 and applying cointegration technique. We find that all variables are the first different stationary and
long and short run relationships are also corroborated. We find the positive relationship between oil price and personal consumption per capita in both
long and short runs which suggest that oil price has direct effect on the consumption of the Kingdom in case of any movement. Moreover, we find that
the oil price crises have insignificant effects on the personal consumption per capita hence the economy’s consumption is supported by non-oil sector
in the slump periods. Based on findings, we suggest the diversification policy to the Saudi economy for a smooth consumption pattern in the long run.
关键词：Personal Consumption Per Capita; Oil Price; Oil Price Slumps; Cointegration
其他关键词：Personal consumption per capita; Oil price; Oil price slumps; cointegration.
