TITLE

The Impact of Oil Price Shocks on the Economic Growth of Selected MENA Countries

AUTHOR(S)
Berument, M. Hakan; Ceylan, Nildag Basak; Dogan, Nukhet
PUB. DATE
January 2010
SOURCE
Energy Journal;2010, Vol. 31 Issue 1, p149
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This paper examines how oil price shocks affect the output growth of selected MEN A countries that are considered either net exporters or net importers of this commodity, but are too small to affect oil prices. That an individual country's economic performance does not affect world oil prices is imposed on the Vector Autoregressive setting as an identifying restriction. The estimates suggest that oil price increases have a statistically significant and positive effect on the outputs of Algeria, Iran, Iraq, Kuwait, Libya, Oman, Qatar, Syria, and the United Arab Emirates. However, oil price shocks do not appear to have a statistically significant effect on the outputs of Bahrain, Djibouti, Egypt, Israel, Jordan, Morocco, and Tunisia. When we further decompose positive oil shocks such as oil demand and oil supply for the latter set of countries, oil supply shocks are associated with lower output growth but the effect of oil demand shocks on output remain positive.
ACCESSION #
47686249

 

Related Articles

  • Global Oil Market Overview.  // Kuwait Oil & Gas Report;Q4 2008, p14 

    The article presents an overview of the global oil market. The second quarter of 2008 taught market observers some awful lessons such as the increasingly less impact of the supply and demand fundamentals on the level of crude prices, the dangerous over-dependence on Organization of Petroleum...

  • Reality, not greed at work. Preece, Howard // Finance Week;11/1/2004, p10 

    This article reports that the arrival of a new economic giant — China — and the exceptional growth that's also coming from the second most populous nation — India — have radically changed the whole supply and demand situation for oil. Further, economic growth in the...

  • Alberta doctors seek relief from oil patch boom. Kondro, Wayne // CMAJ: Canadian Medical Association Journal;9/12/2006, Vol. 175 Issue 6, p571 

    The article deals with the shortage of physicians in Canada in line with the population growth during the first quarter of 2006 caused by economic growth brought about by rising world oil prices. A total of 25, 900 people were added to the population in the first quarter alone. The shortage of...

  • Growth masks structural challenges. NIELD, RICHARD // MEED: Middle East Economic Digest;8/3/2012, Vol. 56 Issue 31, p30 

    The article discusses how Algeria has experienced economic growth as a result of a dependency on petroleum revenues and how unstable oil markets could threaten the country's long-term economic security as of August 2012. Topics include information on oil and gas exports and how oil prices have...

  • Surveying Peak Oil. Larson, Paul // Morningstar StockInvestor;11/15/2009, Vol. 9 Issue 5, p1 

    The article discusses the economic impact of peak oil to international industries. It states that peak oil means reaching a point in which the oil production rate cannot be increased due to the geologic limits. It notes that the supply/demand balance is more likely to be affected with efforts on...

  • UAE: DATA & FORECASTS.  // Middle East Monitor: The Gulf;Jun2006, Vol. 16 Issue 6, p7 

    The article provides information about the condition of petroleum industry in the United Arab Emirates. BMI Inc. forecasts a favorable trend in the country's industry and is set to raise a 51.3-dollar per barrel for average market price. On the other hand, the government also views that the...

  • Methodology And Risks To Forecasts.  // Saudi Arabia Oil & Gas Report;Q4 2011, Issue 4, p73 

    The article presents information on the forecasting of oil and gas industry supply and demand and an increase in oil and gas prices.

  • The Future of Oil: Prices aren't likely to go down anytime soon. Emmond, Kenneth // Business Mexico;Oct2005, Vol. 15 Issue 10, p16 

    The article forecasts the economic performance of oil industry in Mexico. Energy consultants predicts that oil prices will stay relatively high, given the refining constraints. Hurricane Katrina affected the oil supply lines of the country making the price of oil higher. To keep prices in...

  • Slick thinking. van Wyngen, Gerry // BRW;7/13/2006, Vol. 28 Issue 27, p16 

    The article reports on the expectations regarding the latest oil price rise and its effect on oil supply and demand. Based from observations, the prices of oil may approach their peak for the decade. The supply interruptions in 2005 are feared to repeat in 2006, in which the demand from China is...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics