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

Zeinab Shokoohi; Sayed Saghaian

doi:10.1016/j.energy.2022.124416

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

Zeinab Shokoohi
, Sayed Saghaian

Agricultural Economics

Producción científica: Article › revisión exhaustiva

24 Citas (Scopus)

Resumen

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.

Idioma original	English
Número de artículo	124416
Publicación	Energy
Volumen	255
DOI	https://doi.org/10.1016/j.energy.2022.124416
Estado	Published - sept 15 2022

Nota bibliográfica

Publisher Copyright:
© 2022 Elsevier Ltd

Financiación

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.

Financiadores	Número del financiador
U.S. Department of Agriculture
US Department of Agriculture National Institute of Food and Agriculture, Agriculture and Food Research Initiative	1012994, KY004052

ODS de las Naciones Unidas

Este resultado contribuye a los siguientes Objetivos de Desarrollo Sostenible

Zero hunger
Affordable and clean energy

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
General Energy
Management, Monitoring, Policy and Law
Industrial and Manufacturing Engineering
Electrical and Electronic Engineering

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

abstract = "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.",

keywords = "Calorie, Crude oil prices, Fat, Food security, Panel VAR, Protein",

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AU - Saghaian, Sayed

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Y1 - 2022/9/15

N2 - 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.

AB - 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.

KW - Calorie

KW - Crude oil prices

KW - Fat

KW - Food security

KW - Panel VAR

KW - Protein

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

Resumen

Nota bibliográfica

Financiación

ODS de las Naciones Unidas

ASJC Scopus subject areas

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