The impact of oil price shocks on the economic growth of selected MENA countries

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buir.contributor.authorBerument, Hakan
dc.citation.epage176en_US
dc.citation.issueNumber1en_US
dc.citation.spage149en_US
dc.citation.volumeNumber31en_US
dc.contributor.authorBerument, Hakanen_US
dc.contributor.authorCeylan, N. B.en_US
dc.contributor.authorDogan, N.en_US
dc.date.accessioned2016-02-08T09:59:27Z
dc.date.available2016-02-08T09:59:27Z
dc.date.issued2010en_US
dc.departmentDepartment of Economicsen_US
dc.description.abstractThis paper examines how oil price shocks affect the output growth of selected MENA 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. Copyright © 2010 by the IAEE.en_US
dc.description.provenanceMade available in DSpace on 2016-02-08T09:59:27Z (GMT). No. of bitstreams: 1 bilkent-research-paper.pdf: 70227 bytes, checksum: 26e812c6f5156f83f0e77b261a471b5a (MD5) Previous issue date: 2010en
dc.identifier.eissn1944-9089
dc.identifier.issn0195-6574
dc.identifier.urihttp://hdl.handle.net/11693/22390
dc.language.isoEnglishen_US
dc.publisherInternational Association for Energy Economicsen_US
dc.source.titleThe Energy Journalen_US
dc.titleThe impact of oil price shocks on the economic growth of selected MENA countriesen_US
dc.typeArticleen_US

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