Author(s)

Canwei Yang ¹

Affiliation(s)

¹ College of Mathematical Sciences, South China Normal University, Guangdong, China

Corresponding Author

Canwei Yang

ABSTRACT

This paper selects the main statistical data of China 's oil and natural gas production and consumption and macroeconomic from 2003 to 2020, and carries out unit root test, cointegration test and Granger causality test on the growth rate of China 's GDP and the actual price of oil and natural gas. Based on the perspective of time series empirical analysis, this paper analyzes the relationship between economic growth and oil and natural gas consumption in various stages of industrialization in China, and the impact of China's GDP growth on oil and natural gas prices. The results show that the change of GDP growth rate directly affects the market price level of oil and natural gas.

KEYWORDS

Actual price, Economic growth, Cointegration test, Granger Causality Test

CITE THIS PAPER

Canwei Yang, Empirical Study on Oil and Gas Price and Economic Growth Based on Time Series. Information Systems and Economics (2022) Vol. 3: 18-23. DOI: http://dx.doi.org/10.23977/infse.2022.030204.

REFERENCES

[1] Qi Miaoqing. Importance of developing petroleum industry in Xinjiang [J]. Chemical engineering and equipment, 2020 (08): 203-204. 
[2] Shi Jun & Liu Xiantao. (2017). The empirical test of the correlation between industrial structure, oil demand and economic growth. Statistics and decision-making (01), 135-138. 
[3] Li Hongxun, Lan Zhi & Ju Xiaotong. (2017). Research on the relationship between investment, carbon emissions and economic growth in China's oil industry based on PVAR model. Chinese and foreign energy (08), 8-16. 
[4] Zhou Rui. (2021). Time-varying effects of international oil price fluctuations on China's economic growth and inflation. World Economic and Political Forum (05), 87-102. 
[5] Sunna & Qi Xiaowei (2021). Empirical analysis of the impact of oil price fluctuations on economic growth in Xinjiang.Science and technology economic market (09), 42-44 + 47.

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