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Examining the long-term, short-term and dynamic effects of crude oil prices on the price of styrene butadiene synthetic rubber
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Ehsan Mousavi Jahanabad *   1, MirSajjad MosajedMousavi , Sepideh Khalafi |
| 1- , semj1374@gmail.com |
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Abstract: (407 Views) |
Currently, oil has a wide-ranging impact on various aspects of modern human life. Fluctuations in oil prices and their influence on the prices of petrochemical products are at the center of economic policymakers’ and industrial managers’ thinking. Styrene-butadiene synthetic rubber is one of the most commonly used products in the petrochemical industry, serving as a raw material in the production of various types of vehicle tires, belts, and conveyor belts. Examining the factors influencing the prices of raw materials and final products in manufacturing companies is of particular importance. This research has been conducted to assist financial and commercial managers of petrochemical and rubber industries in pricing decisions. By investigating the dynamic relationship between the price of Texas crude oil and the price of styrene-butadiene synthetic rubber in the United States, this study utilized the VECM model and monthly time series data from January 2018 to March 2024. The results indicate a significant and positive long-term relationship between these two variables. However, in the short term, this relationship is not significant. Additionally, the impact of crude oil price shocks on the price of styrene-butadiene synthetic rubber is evident in the long term, showing a direct relationship between these two variables.
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| Keywords: Oil Price, Styrene Butadiene Synthetic Rubber Price, VECM Model, SBR |
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Full-Text [PDF 1023 kb]
(122 Downloads)
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Type of Study: Research |
Subject:
Energy Economic
Received: 2024/06/12 | Accepted: 2024/09/18 | Published: 2024/10/1 | ePublished: 2024/10/1
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