An empirical study on the effect of oil shocks on China's industrial economy

摘要

Oil is extensive involved in industry chain, it is obvious that the oil price shocks could affect all aspects of our production and life through the industry-chains' transmission. Based on the nature of the shocks, we would decompose them into four different types, analyze the transmission mechanisms on some typical industries which in Chinese industry-chain. According to the researches about the influences on typical industries brought by these different shocks, we could find that: because of the various transformation or transference abilities of oil price on industry-chain, different industries in the chain would encounter different impacts; especially the supply oil shocks on the typical sectors are greater than others.