Indian Journal of Science and Technology
Year: 2017, Volume: 10, Issue: 29, Pages: 1-5
Krishna Murthy Inumula*
*Author For Correspondence
Krishna Murthy Inumula Symbiosis Institute of International Business, Symbiosis International University, G. No. 174/1, Hinjawadi, Pune – 41057, Maharastra, India; [email protected]
Crude oil price dynamics determines the order of the world oil market in which OPEC and Non OPEC countries plays major role as exporters and importers. The co-integration and information flow of crude oil price between these groups of countries is helpful in understanding the oil price dynamics in terms of oil rich and oil dependent countries. In this empirical study we explored whether or not the selected OPEC and non OPEC countries are co integrated, if so what kind of causal information implies between each other and country’s dependence or independence in terms of price giver or price taker. Econometrics tools and causal data analysis software tetrad is used in the analysis of oil price time series data.
Keywords: Co integration, Crude Oil Price, Econometrics, Tetrad, Time Series
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