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Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach

Year 2014, Volume: 4 Issue: 3, 427 - 441, 01.09.2014

Aliyu Barde Abdullahi

https://izlik.org/JA54DH83JS

Abstract

In this paper, the demand function for five major petroleum products consume in Nigeria namely gasoline, diesel, kerosene, fuel oil, liquefied petroleum gas (LPG) and aggregate was estimated using Structural Time Series Models (STSMs) which accounts for structural changes in energy demand estimation. STSMs incorporate stochastic rather than deterministic trend which is more general and therefore argued to be more appropriate in this study. The results suggest that the demand for petroleum products in Nigeria is both price and income inelastic and the underlying demand trends were generally stochastic in nature. LPG has relatively higher elasticities than the rest of the petroleum products, namely kerosene, gasoline, diesel and fuel oil.

Keywords

Petroleum Product demand STSM Stochastic Trend

Year 2014, Volume: 4 Issue: 3, 427 - 441, 01.09.2014

Aliyu Barde Abdullahi

https://izlik.org/JA54DH83JS

Abstract

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Other ID JA48AV39NR
Authors

Aliyu Barde Abdullahi This is me

Publication Date September 1, 2014
IZ https://izlik.org/JA54DH83JS
Published in Issue Year 2014 Volume: 4 Issue: 3

Cite

APA Abdullahi, A. B. (2014). Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach. International Journal of Energy Economics and Policy, 4(3), 427-441. https://izlik.org/JA54DH83JS
AMA 1.Abdullahi AB. Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach. IJEEP. 2014;4(3):427-441. https://izlik.org/JA54DH83JS
Chicago Abdullahi, Aliyu Barde. 2014. “Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach”. International Journal of Energy Economics and Policy 4 (3): 427-41. https://izlik.org/JA54DH83JS.
EndNote Abdullahi AB (September 1, 2014) Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach. International Journal of Energy Economics and Policy 4 3 427–441.
IEEE [1]A. B. Abdullahi, “Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach”, IJEEP, vol. 4, no. 3, pp. 427–441, Sept. 2014, [Online]. Available: https://izlik.org/JA54DH83JS
ISNAD Abdullahi, Aliyu Barde. “Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach”. International Journal of Energy Economics and Policy 4/3 (September 1, 2014): 427-441. https://izlik.org/JA54DH83JS.
JAMA 1.Abdullahi AB. Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach. IJEEP. 2014;4:427–441.
MLA Abdullahi, Aliyu Barde. “Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach”. International Journal of Energy Economics and Policy, vol. 4, no. 3, Sept. 2014, pp. 427-41, https://izlik.org/JA54DH83JS.
Vancouver 1.Abdullahi AB. Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach. IJEEP [Internet]. 2014 Sept. 1;4(3):427-41. Available from: https://izlik.org/JA54DH83JS