Hydrocarbon exploitation and macroeconomic performance: a structural var approach for Basilicata1

Titolo Rivista ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT
Autori/Curatori Floriana Florestano
Anno di pubblicazione 2013 Fascicolo 2013/1
Lingua Inglese Numero pagine 28 P. 147-174 Dimensione file 810 KB
DOI 10.3280/EFE2013-001008
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The impact of the energy sector on the economy is large. Energy in all its forms (fuel, gas, minerals etc) is a crucial input of production and also of growth. This explains why it is important to analyze the relationship between macroeconomic performance (of a country, region, area) and energy. And this is even more relevant for countries rich of natural resources. Italy is the 4th hydrocarbon producer in Europe (after Norway, UK and Denmark) and more than 70% of oil its oil production comes from Basilicata, one of its smallest regions. Thus, the main aim of this work is to study the relationship between hydrocarbon extraction and GDP, employment and value added in construction in Basilicata. Overall, we obtain consistent empirical results independently of the methodologies adopted. The analysis showed that there is a very weak evidence that hydrocarbon exploitation has produced growth in Basilicata.

Keywords:Hydrocarbon, local content, macroeconomic performance, VAR analysis JEL classification:

Jel codes:Q43, E0, R11

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Floriana Florestano, Hydrocarbon exploitation and macroeconomic performance: a structural var approach for Basilicata1 in "ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT" 1/2013, pp 147-174, DOI: 10.3280/EFE2013-001008