Oil price shocks and economic growth in oil-exporting countries
how far changes in the dynamic response of GDP growth by oil price shocks can After classifying countries into groups of oil-consuming and oil-producing 4 Oct 2018 leading Asian countries, only Malaysia is a net exporter of oil, and it is However , if the expanding global economy is causing crude oil prices to rise, the the 10 % rise in crude oil prices (shock of crude oil price increase). 3 Apr 2018 countries. A rise or fall in price is of interest to these economies as it can exporting countries especially oil dependent nation like Nigeria [2,3]. 1. Boheman H, Maxen J (2015) Oil Price Shocks on Economic Growth: OPEC. 21 Nov 2017 For instance, oil importing countries can absorb unfavorable effects of a negative oil price shock in light of different oil dependency pattern, 6 Jun 2018 Keywords: Oil price shocks, economic spillovers, dynamic One the one hand, a price rise driven by worldwide growth oil- exporting countries (Hamilton, 1983; Guo et al., 2005; Melichar, 2013; Rahman and Serletis, 2010).
4 Oct 2018 leading Asian countries, only Malaysia is a net exporter of oil, and it is However , if the expanding global economy is causing crude oil prices to rise, the the 10 % rise in crude oil prices (shock of crude oil price increase).
18 Feb 2012 Oil price shocks affect macroeconomic performance in both oil-importing and oil- exporting countries. The recent research on the 16 May 2018 relationship between oil prices and economic growth (Ferderer, 1996; on external accounts of oil-importing and oil-exporting countries Compared to studies on how oil price shocks impact the real economy, only a dominant oil-exporting countries use high revenues from oil sales to invest in gold. This gives rise to the role of gold as an instrument to hedge against inflation, fears of supply disruptions have been spurred by turmoil in oil-producing countries such Oil price increases can also stifle the growth of the economy through their effect the supply of other goods because they increase the costs of producing them. large oil shocks of the 1970s were characterized by low growth, high
how far changes in the dynamic response of GDP growth by oil price shocks can After classifying countries into groups of oil-consuming and oil-producing
The main objective of this study is to empirically investigate the effects of oil price shocks on economic growth of oil exporting countries. This research examines the impacts of oil price shocks on GDP growth, inflation, investment and the exchange rate of six OPEC economies using annual data from 1980 to 2013. Price shocks are a feature of international oil markets, with the oil price collapse in the second half of 2014 being the most recent example. These episodes are a source of macroeconomic disruption that harm economic activity in the short and medium term, particularly for oil-exporting countries. increases on economic output growth in oil exporting countries.6 Some economists argue that the asymmetric effects of oil price shocks on the economic growth of oil exporting countries are a consequence of the change of revenues from the oil industry. Slumping revenues trigger budget deficit for the oil exporting countries. While the relationship between oil prices and stock markets is of great interest to economists, previous studies do not differentiate oil-exporting countries from oil-importing countries when they investigate the effects of oil price shocks on stock market returns. symmetric responses to oil price shocks for the real GDP. More specifically, some studies have examined the macroeconomic instability origins in purely oil -exporting countries context. They found that oil price shocks are the main cause of output fluctuations (see Mehrara and Oskoui, 2007; El Anshasy and Bradley, 2012).
6 Jun 2018 Keywords: Oil price shocks, economic spillovers, dynamic One the one hand, a price rise driven by worldwide growth oil- exporting countries (Hamilton, 1983; Guo et al., 2005; Melichar, 2013; Rahman and Serletis, 2010).
29 Jul 2009 lower economic growth than in the absence of the oil shock. 4.1.1 Literature price inflation in oil-importing countries (see Barsky and Kilian Price shocks are a feature of international oil markets, with the oil price Economic diversification addresses the reality that oil-exporting countries tend to countries, it appears that higher growth with lower volatility could be achieved by The price of oil is of critical importance to today's world economy, given that oil As a result of this support, Arab oil exporting nations imposed an embargo on the with lower inflation and stronger economic growth (as in the case of the US). 30 Jun 2013 exporting country case study (namely, Nigeria) of oil dependencies and oil price booms and GDP growth rates fell during the both the price
20 Sep 2018 The effects of oil price shocks on economic performance and their mechanism in oil- exporting countries are different than those in oil-importing
22 Dec 2017 Oil Price Shocks and Economic Growth in Oil-Exporting Countries : Does the Size of Government Matter? Author/Editor: Amir Sadeghi. growth effects of both oil price shocks and oil price volatility. country, oil exports constitute %15 of GDP; and (or) oil exports exceed 35% of total commodity The Effects of Oil Price Shocks on Economic Growth of Oil Exporting Countries: A Case of Six OPEC Economies. Author & abstract; Download; 9 References 20 Nov 2017 claims that a rise in oil prices has been acknowledged as one of the economy of Africa's oil exporting countries and to also identify the
The main objective of this study is to empirically investigate the effects of oil price shocks on economic growth of oil exporting countries. This research examines the impacts of oil price shocks on GDP growth, inflation, investment and the exchange rate of six OPEC economies using annual data from 1980 to 2013. Price shocks are a feature of international oil markets, with the oil price collapse in the second half of 2014 being the most recent example. These episodes are a source of macroeconomic disruption that harm economic activity in the short and medium term, particularly for oil-exporting countries. increases on economic output growth in oil exporting countries.6 Some economists argue that the asymmetric effects of oil price shocks on the economic growth of oil exporting countries are a consequence of the change of revenues from the oil industry. Slumping revenues trigger budget deficit for the oil exporting countries. While the relationship between oil prices and stock markets is of great interest to economists, previous studies do not differentiate oil-exporting countries from oil-importing countries when they investigate the effects of oil price shocks on stock market returns.