TY  - JOUR
T1  - South African Petrol Price and Consumption Cointegration Analysis
AU - Femi Olayiwola, Matthew AU - Matshonisa Seeletse, Solly 
JO  - Journal of Engineering and Applied Sciences
VL  - 15
IS  - 6
SP  - 1579
EP  - 1588
PY  - 2020
DA  - 2001/08/19
SN  - 1816-949x
DO  - jeasci.2020.1579.1588
UR  - https://makhillpublications.co/view-article.php?doi=jeasci.2020.1579.1588
KW  - VAR
KW  -augmented Dickey-Fuller
KW  -cointegration
KW  -significant
KW  -correlation
AB  - In this study, the relationship between the quarterly data of consumption and price of petrol from
2005-2017 is considered. The two series are found to be integrated of the same order I(1) based on the ADF
test. Though both variables do not have long-run equilibrium relationship based on Engle-Granger and Johansen
tests but there exists a unidirectional causality from consumption to the retail price of petrol. The VAR Models
estimated are found to be significant and stable and without any defects (i.e., no heteroskedasticity, no serial
correlation and residuals of these VAR Models are found to be normally distributed).
ER  -