The common oil shocks and growth in African net importers: new evidence from the Russia-Ukraine energy crisis era
Description
This dataset supports research examining how oil price shocks affect economic growth in African net oil-importing countries. The central hypothesis posits that increases in real oil prices expressed in domestic currency to capture both international price movements and exchange rate transmission exert negative effects on real GDP per capita growth through multiple channels: supply-side cost increases, demand-side income transfers to oil exporters, exchange rate depreciation amplification, fiscal crowding-out via energy subsidies, and investment delays due to heightened uncertainty. We employ Cross-Sectionally Augmented Autoregressive Distributed Lag (CS-ARDL) methodology to account for common exposure to global oil price shocks and regional interdependencies while accommodating heterogeneous country-specific responses.
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Steps to reproduce
stata codes : encode id,gen(id1) xtset id1 YEAR pwcorr LY LPT LOILLC LF GFC GOV TO graph box LY LPT LOILLC LF GFC TO GOV gen trend = YEAR - 1990 xthst LY LPT LOILLC LF GFC GOV TO xthst LY LPT LOILLC LF GFC GOV TO,hac xtcse2 LY LPT LOILLC LF GFC GOV TO xtunitroot llc LF, lags(2) xtunitroot llc d.LF, lags(2) pescadf LY, lags(2) pescadf d.LY, lags(2) reg LY LPT LOILLC LF GFC GOV TO vif xtwest LY LPT LOILLC LF GFC GOV TO, constant trend lags(2) bootstrap(100) xtdcce2 d.LY, lr(l.d.LY l.d.LP d.LOILLC d.LF d.TO d.GOV l.d.GFC) lr_options(ardl) cr(d.LY d.LOILLC d.LF d.GOV ) cr_lags(2) fullsample trend