Estimating the Efficiency and Impacts of Petroleum Product Pricing Reforms in China

doi:10.3390/su10041080

CORC > 上海财经大学 > 上海财经大学

	Estimating the Efficiency and Impacts of Petroleum Product Pricing Reforms in China
	Deng, Chuxiong 1; Jiang, Zhujun 2; Sun, Chuanwang 3
刊名	SUSTAINABILITY
	2018-04
卷号	10 期号:4
关键词	petroleum products pricing mechanism price adjustment augmented Phillips curve
ISSN号	2071-1050
DOI	10.3390/su10041080
英文摘要	The efficiency and effects analysis of a new pricing mechanism would have significant policy implications for the further design of a pricing mechanism in an emerging market. Unlike most of the existing literature, which focuses on the impacts to the macro-economy, this paper firstly uses an econometrics model to discuss the efficiency of the new pricing mechanism, and then establishes an augmented Phillips curve to estimate the impact of pricing reform on inflation in China. The results show that: (1) the new pricing mechanism would strengthen the linkage between Chinese oil prices and international oil prices; (2) oil price adjustments are still inadequate in China. (3) The lag in inflation is the most important factor that affects inflation, while the impact of the Chinese government's price adjustments on inflation is limited and insignificant. In order to improve the efficiency of the petroleum products pricing mechanism and shorten lags, government should shorten the adjustment period and diminish the fluctuation threshold.
WOS研究方向	Science & Technology - Other Topics ; Environmental Sciences & Ecology
语种	英语
出版者	MDPI
WOS记录号	WOS:000435188000184
内容类型	期刊论文
源URL	[http://10.2.47.112/handle/2XS4QKH4/642]
专题	上海财经大学
作者单位	1.Hunan Normal Univ, Coll Resources & Environm Sci, Changsha 410081, Hunan, Peoples R China; 2.Shanghai Univ Finance & Econ, Inst Finance & Econ Res, Sch Urban & Reg Sci, Shanghai 200433, Peoples R China; 3.Xiamen Univ, Sch Econ, China Ctr Energy Econ Res, Xiamen 361005, Fujian, Peoples R China
推荐引用方式 GB/T 7714	Deng, Chuxiong,Jiang, Zhujun,Sun, Chuanwang. Estimating the Efficiency and Impacts of Petroleum Product Pricing Reforms in China[J]. SUSTAINABILITY,2018,10(4).
APA	Deng, Chuxiong,Jiang, Zhujun,&Sun, Chuanwang.(2018).Estimating the Efficiency and Impacts of Petroleum Product Pricing Reforms in China.SUSTAINABILITY,10(4).
MLA	Deng, Chuxiong,et al."Estimating the Efficiency and Impacts of Petroleum Product Pricing Reforms in China".SUSTAINABILITY 10.4(2018).