Please use this identifier to cite or link to this item: https://doi.org/10.1080/02664760410001681837
Title: The demand for gasoline in China: A cointegration analysis
Authors: Cheung, K.-Y.
Thomson, E. 
Keywords: Cointegration analysis
Gasoline consumption
Price and income elasticities
Issue Date: Jun-2004
Citation: Cheung, K.-Y., Thomson, E. (2004-06). The demand for gasoline in China: A cointegration analysis. Journal of Applied Statistics 31 (5) : 533-544. ScholarBank@NUS Repository. https://doi.org/10.1080/02664760410001681837
Abstract: The economic reforms in China since 1979 and consequent increases in disposable income have caused total gasoline consumption to soar nearly 240% between 1980 and 1999. As the growth rate of gasoline consumption is expected to be high due to the increased economic activity resulting from China's re-accession to the WTO, the government must understand the implications for economic growth and balance of payments. Using cointegration techniques, it was found that, between 1980 and 1999, demand for gasoline was relatively inelastic to price changes, both in the short and long terms. The long-run income elasticity was 0.97, implying that the future growth rate of gasoline consumption will be close to the growth rate of the economy, which is predicted to be about 7% per annum from 2001 to 2005, and 5-6% over the decade thereafter. © 2004 Taylor & Francis Ltd.
Source Title: Journal of Applied Statistics
URI: http://scholarbank.nus.edu.sg/handle/10635/117181
ISSN: 02664763
DOI: 10.1080/02664760410001681837
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