{"id":4169,"date":"2021-06-13T12:44:10","date_gmt":"2021-06-13T04:44:10","guid":{"rendered":"https:\/\/www.ukm.my\/jem\/?post_type=article&#038;p=4169"},"modified":"2023-03-09T14:49:42","modified_gmt":"2023-03-09T06:49:42","slug":"the-relationship-between-consumption-and-imports-of-fuel-oil-in-indonesia","status":"publish","type":"article","link":"https:\/\/www.ukm.my\/jem\/article\/the-relationship-between-consumption-and-imports-of-fuel-oil-in-indonesia\/","title":{"rendered":"The Relationship between Consumption and Imports of Fuel Oil in Indonesia"},"content":{"rendered":"<p><span class=\"fontstyle0\">This study examines the short- and long-run relationship between consumption and imports of fuel oil in Indonesia using a time series data spanning from 1988 to 2018. A Vector Error Correction Model (VECM) approach has been used in examining the short- and long-term conditions designed based on the theoretical framework of the Keynesian consumption model. The results show that the import and price of fuel oil significantly affect fuel oil consumption in Indonesia. Notably, fuel oil imports and prices disrupt the equilibrium of fuel oil consumption in the short term, although, in the long term, the consumption returns to the equilibrium. Moreover, fuel oil consumption and the exchange rate also significantly affect fuel oil imports in Indonesia. Specifically, the exchange rate disrupts fuel oil imports in the short term, then returns to the equilibrium in the long term. Accordingly, the Indonesian government needs to manage fuel oil imports and exchange rate stability to eliminate short-term disruptions in Indonesia\u2019s fuel oil imports.<\/span><\/p>\n","protected":false},"template":"","tags":[602,600,601],"jel-code":[],"article-type":[1329],"class_list":["entry","author-jem","post-4169","article","type-article","status-publish","tag-exchange-rate","tag-fuel-oil-consumption","tag-fuel-oil-import","article-type-normal-article"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Relationship between Consumption and Imports of Fuel Oil in Indonesia | Jurnal Ekonomi Malaysia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ukm.my\/jem\/article\/the-relationship-between-consumption-and-imports-of-fuel-oil-in-indonesia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Relationship between Consumption and Imports of Fuel Oil in Indonesia | Jurnal Ekonomi Malaysia\" \/>\n<meta property=\"og:description\" content=\"This study examines the short- and long-run relationship between consumption and imports of fuel oil in Indonesia using a time series data spanning from 1988 to 2018. A Vector Error Correction Model (VECM) approach has been used in examining the short- and long-term conditions designed based on the theoretical frameworkContinue Reading\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ukm.my\/jem\/article\/the-relationship-between-consumption-and-imports-of-fuel-oil-in-indonesia\/\" \/>\n<meta property=\"og:site_name\" content=\"Jurnal Ekonomi Malaysia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Jurnal-Ekonomi-Malaysia-JEM-104142808087485\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-09T06:49:42+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@EkonomiJurnal\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/article\\\/the-relationship-between-consumption-and-imports-of-fuel-oil-in-indonesia\\\/\",\"url\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/article\\\/the-relationship-between-consumption-and-imports-of-fuel-oil-in-indonesia\\\/\",\"name\":\"The Relationship between Consumption and Imports of Fuel Oil in Indonesia | Jurnal Ekonomi Malaysia\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/#website\"},\"datePublished\":\"2021-06-13T04:44:10+00:00\",\"dateModified\":\"2023-03-09T06:49:42+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/article\\\/the-relationship-between-consumption-and-imports-of-fuel-oil-in-indonesia\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ukm.my\\\/jem\\\/article\\\/the-relationship-between-consumption-and-imports-of-fuel-oil-in-indonesia\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/article\\\/the-relationship-between-consumption-and-imports-of-fuel-oil-in-indonesia\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Articles\",\"item\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/article\\\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"The Relationship between Consumption and Imports of Fuel Oil in Indonesia\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/#website\",\"url\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/\",\"name\":\"Jurnal Ekonomi Malaysia\",\"description\":\"Universiti Kebangsaan Malaysia\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/#organization\",\"name\":\"Jurnal Ekonomi Malaysia\",\"url\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/cropped-browser-icon-letter-1.png\",\"contentUrl\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/cropped-browser-icon-letter-1.png\",\"width\":512,\"height\":308,\"caption\":\"Jurnal Ekonomi Malaysia\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/Jurnal-Ekonomi-Malaysia-JEM-104142808087485\",\"https:\\\/\\\/x.com\\\/EkonomiJurnal\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The Relationship between Consumption and Imports of Fuel Oil in Indonesia | Jurnal Ekonomi Malaysia","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ukm.my\/jem\/article\/the-relationship-between-consumption-and-imports-of-fuel-oil-in-indonesia\/","og_locale":"en_US","og_type":"article","og_title":"The Relationship between Consumption and Imports of Fuel Oil in Indonesia | Jurnal Ekonomi Malaysia","og_description":"This study examines the short- and long-run relationship between consumption and imports of fuel oil in Indonesia using a time series data spanning from 1988 to 2018. 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