Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/130283
Authors: 
Bastianin, Andrea
Galeotti, Marzio
Manera, Matteo
Year of Publication: 
2015
Series/Report no.: 
Nota di Lavoro, Fondazione Eni Enrico Mattei 100.2015
Abstract: 
The security of energy supply is a key geopolitical factor in the relationship between the European Union and the southern neighborhood countries of the Middle East and North Africa region. We study the response of eight Mediterranean economies to exogenous oil supply shocks. We focus on the effects on economic activity - as measured by real Gross Value Added - for the whole economy, as well as for selected industries. We show that there are clear patterns characterizing the response of different economies to an unexpected reduction in global oil production. The main determinants of these patterns are the degree of energy intensity and energy dependence of the country, as well as the composition of its Gross Value Added.
Subjects: 
Oil Supply Shocks
Mediterranean
Growth
JEL: 
C22
E32
Q43
Q41
Document Type: 
Working Paper

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