Title :
China´s oil vulnerability and economic growth: An empirical study
Author :
Xin-gang, Zhao ; Lu, Liu ; Tian-tian, Feng ; Ping-kuo, Liu ; Xiao-meng, Liu
Author_Institution :
Sch. of Econ. & Manage., North China Electr. Power Univ., Beijing, China
Abstract :
Economic growth relies on energy. Accompany with the enhancement of oil vulnerability, it´s crucial for China´s government to research the relationship between oil security and economic growth. This paper selects eight quantifiable individual indicators to comprehensively measure oil vulnerability of China for the duration of 1997-2008 by means of principal component analysis, and a comparison between the index and China´s real growth rate of GDP is conducted through the adoption of grey relational analysis, then demonstrates the following: (1) China´s oil vulnerability has been generally increased in recent years. (2) There is a comparatively high consistency between China´s oil vulnerability and economic growth. As China´s economy develops stably and rapidly, oil vulnerability is increasing invisibly. Therefore, attention should be paid to easing China´s oil vulnerability when the goal of stable and rapid economic growth is guaranteed.
Keywords :
economic indicators; government; grey systems; petroleum industry; principal component analysis; China; economic growth; government; grey relational analysis; oil security; oil vulnerability; principal component analysis; Economic growth; Grey relational analysis; Oil security; Oil vulnerability; Principal component analysis;
Conference_Titel :
Communication Software and Networks (ICCSN), 2011 IEEE 3rd International Conference on
Conference_Location :
Xi´an
Print_ISBN :
978-1-61284-485-5
DOI :
10.1109/ICCSN.2011.6014303