Nexus of energy and food nutrition prices in oil importing and exporting countries: A panel VAR model

Zeinab Shokoohi, Sayed Saghaian

Research output: Contribution to journalArticlepeer-review

4 Scopus citations


This study explores the relationship between energy and food nutrition prices through food calorie, fat, protein, and crude oil price links in the case of eight net oil importing (U.S., Korea, China, and Japan) and exporting (Canada, Saudi Arabia, United Arab Emirate, and Iran) countries. For this purpose, we use a Panel-VAR model with data for the 1974–2018 period. The results show that the effects of oil prices shocks on food nutrition prices are different in the two groups of countries. These effects, in oil importing countries, are initially declining and then adjusts over several periods while they are incremental and meaningful for oil exporting countries. In addition, the effects of real gross domestic product (GDP) and exchange rates on food nutrition prices are statistically significant in the oil exporting countries, while they have no direct effect on the food calorie and fat prices in the net oil importing countries. These results suggest that crude oil price, income, and exchange rate policies play an effective role in controlling hunger levels and improving food security in oil-exporting countries.

Original languageEnglish
Article number124416
StatePublished - Sep 15 2022

Bibliographical note

Funding Information:
The authors would like to thank the editor and the reviewers of Energy for all their efforts. Sayed Saghaian acknowledges the support from the United States Department of Agriculture, National Institute of Food and Agriculture, Hatch project No. KY004052, under accession number 1012994.

Publisher Copyright:
© 2022 Elsevier Ltd


  • Calorie
  • Crude oil prices
  • Fat
  • Food security
  • Panel VAR
  • Protein

ASJC Scopus subject areas

  • Civil and Structural Engineering
  • Modeling and Simulation
  • Renewable Energy, Sustainability and the Environment
  • Building and Construction
  • Fuel Technology
  • Energy Engineering and Power Technology
  • Pollution
  • Mechanical Engineering
  • Energy (all)
  • Management, Monitoring, Policy and Law
  • Industrial and Manufacturing Engineering
  • Electrical and Electronic Engineering


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