Haniyeh Sedaghat Kalmarzi; Shahram Fatahi; kiomars sohaili
Abstract
In this article, the interaction effects of growth and happiness in the framework of a dynamic simultaneous equations panel data model have been considered in the OPEC countries during the period of 2005–2016. Also, according to the resource curse hypothesis, the threshold effects of oil rent on ...
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In this article, the interaction effects of growth and happiness in the framework of a dynamic simultaneous equations panel data model have been considered in the OPEC countries during the period of 2005–2016. Also, according to the resource curse hypothesis, the threshold effects of oil rent on both economic growth and happiness have been tested. The estimation results have indicated that the first lag of happiness has had an insignificant positive impact on economic growth but the first lag of economic growth has had a significant negative impact on happiness. In other words, it can be argued that the benefits of economic growth in the oil oriented countries under this study are not uniformly distributed across all parts of society. Also, in the framework of the mentioned model, the effect of oil rent on happiness and economic growth has been threshold. In other words, before the threshold of 26.25% of the ratio of oil rents to GDP, the oil rent had a positive effect on economic growth, but after the threshold, it had a negative effect on economic growth, which indicates the phenomenon of resource curse in OPEC countries. A similar result has been obtained on the effect of oil rent on happiness, so that before the threshold of 26.92% of the ratio of oil rent to GDP, oil rent has had a positive and significant effect on happiness, but after exceeding this threshold, oil rents have had a negative effect on happiness, which could reflect the existence of the Easterlin paradox in the countries.
Shahram Golestani; Abbas Jogheini; Mahmood Khorasani
Volume 2, Issue 8 , December 2012, , Pages 68-51
Abstract
Recently, the study of relation between economic convergences with the business cycle synchronizations among countries has become one of the important issues in economic literature. In this investigation the business cycle synchronization with the oil revenues studied for OPEC member countries. In this ...
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Recently, the study of relation between economic convergences with the business cycle synchronizations among countries has become one of the important issues in economic literature. In this investigation the business cycle synchronization with the oil revenues studied for OPEC member countries. In this study, the annual data for the period 1973-2010, are used. At first, the time series of GDP and oil revenues have de-trended by the Hodrick-Prescott (HP) filter. Then, after confirming the business cycle synchronization and the oil revenues synchronization for OPEC member countries, the relationship between the business cycle synchronization with oil revenues are tested by Panel-VAR model. The results represent positive relationship between the business cycle synchronization and oil revenues for OPEC countries.
Mahboobeh Jahadi; Zahra Elmi
Volume 1, Issue 2 , January 2012, , Pages 40-11
Abstract
Oil price fluctuations are one of the most important causes of economic crisis among both oil exporting and importing countries. Hence, study of oil price shocks on economy of oil exporting countries which oil revenues is the intensive generator is so vital. In this study, the effect of oil shocks on ...
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Oil price fluctuations are one of the most important causes of economic crisis among both oil exporting and importing countries. Hence, study of oil price shocks on economy of oil exporting countries which oil revenues is the intensive generator is so vital. In this study, the effect of oil shocks on economic growth in selected OPEC member countries is studied; at first oil price shocks are extracted by Hodrick-Prescott filtering and then the effect of oil shocks on regarded variables are estimated by Vector Auto-regressive Model (VAR). The result of regression analysis show that Emirate and Iran are the most dependent to oil shocks; Indonesia and Ecuador is the least dependent. The experience of Indonesia shows that decreasing in oil dependence is not possible without taking correct policies.
Co2 Emissions
Mohammad Hassan Fotros
Volume 1, Issue 1 , January 2012, , Pages 77-59
Abstract
This research investigates the existence of relationships between economic growth and carbon emissions in the Organization of Petroleum Exporting Countries (OPEC) for the period of 1960 to 2005. A model relating economic growth and carbon emissions is used to examine the eventual existence of Environmental ...
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This research investigates the existence of relationships between economic growth and carbon emissions in the Organization of Petroleum Exporting Countries (OPEC) for the period of 1960 to 2005. A model relating economic growth and carbon emissions is used to examine the eventual existence of Environmental Kuznets Curve (EKC) hypothesis. To test our hpothesis, the econometric panel data approach is employed. The results indicate that there is a positive relationship between gross domestic product and CO2 emissions. And, with persistence of economic growth this relationship becomes negative. That is, the estimation has given an EKC relationship between GDP and CO2 emissions in these countrries.
