The effect of world oil price on Vietnam's petroleum import-export turnover
Abstract
The aim of this study is to identify the impact of world crude oil price on
Vietnam import-export turnover. After reviewing the related theoretical and empirical
literature, the structure of world crude oil and other independent variables as well as
oil trade variables in process of trading integration is examined. By using monthly
time series data collected on World and Vietnam in January 2004 - December 2014
period as well as applying Classical linear regression model, the result of the
econometric analysis showed that an there is an positive relationship between world
crude oil price and Vietnam export-import revenue at lagged period, which is
meaningful for the Authority in controlling inflation.
Keywords: World oil prices, oil import-export turnover, Vietnam