Oil shocks and economic growth in OPEC countries

Oil shocks and economic growth in OPEC countries / Zied Ftiti, Khaled Guesmi & Frédéric Teulon. Paris : IPAG Business School, 2014, 18 p. (working paper 2014-064)

http://ideas.repec.org/p/ipg/wpaper/2014-064.html

Authors’s abstract :

This paper assesses the impact of oil prices on economic growth of the four major OPEC countries (United Arab Emirates, Kuwait, Saudi Arabia and Venezuela) over the period spanning from 03/09/2000 to 03/12/2010. We aim at complementing the results from existing analyses (mainly focused on oil-importing countries) by using the evolutionary co-spectral analysis as defined by Priestley and Tong (1973). We find that co-movements between oil and economic growth have different patterns depending of the studied horizons. This interdependence is a mediumlived phenomenon, revealed on a three years and one quarter horizon, being weak in the short-run (ten months). We show that oil price shocks in periods of world turmoil or during fluctuations of the global business cycle (downturn or growth, as for instance the 2008 financial crisis) have a significant impact on the relationship between oil and economic growth in oil-exporting countries.


OpenEdition vous propose de citer ce billet de la manière suivante :
Danièle Revel (28 février 2014). Oil shocks and economic growth in OPEC countries. Veille énergie climat. Consulté le 25 juillet 2024 à l’adresse https://doi.org/10.58079/oawb


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