OPEC
mohsen jafari; marziyeh esfandiari; mosayeb pahlavani
Abstract
The positive role of financial market development in reducing the effect of natural resources curse on the economic growth of countries is determined when the development of the financial sector in a country can allocate the income from natural resources to development and capital projects and in finally, ...
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The positive role of financial market development in reducing the effect of natural resources curse on the economic growth of countries is determined when the development of the financial sector in a country can allocate the income from natural resources to development and capital projects and in finally, lead to economic growth. Therefore, in this study, the effect of oil revenue governance on the economic growth of selected OPEC member countries was investigated, with an emphasis on the development of the banking sector, using the PVAR GMM method. For this purpose, the required data was gathered from the Global Financial Development Database (GFDD), World Development Indicators (WDI), International Monetary Fund (IMF), and the database of selected OPEC member countries (Iran, Iraq, Saudi Arabia, Kuwait, Venezuela, Nigeria, Algeria, UAE, and Libya) from 2003 to 2022, and STATA software was used to analyze the data. Results showed that the governance indicators of oil revenues and banking sector development indicators have a positive effect on economic growth. Also, oil revenues have had a significant positive effect on economic growth, but with the increase in growth of oil revenues, economic growth has decreased, indicating the existence of a curse of natural resources or Dutch disease in the countries under study. Finally, the indicators of banking sector development strengthen the positive effect of governance indicators of oil revenues on economic growth and thus reduce the negative effects of natural resources curse in mentioned countries.
OPEC
Reihaneh Larijani; Seyed Kamal Sadeghi; Zahra Karimi Takanlu; Reza Ranjpur
Abstract
This study has been used to investigate the effect of oil price fluctuations on the banking system and how it is related to the macroeconomics, using the quality of bank fragility introduced by Kibritçioglu (2003) and the selection auto regression method with the Markov switching model.Since fluctuating ...
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This study has been used to investigate the effect of oil price fluctuations on the banking system and how it is related to the macroeconomics, using the quality of bank fragility introduced by Kibritçioglu (2003) and the selection auto regression method with the Markov switching model.Since fluctuating and unstable economic conditions have an impact on economic conditions and the banking system to detect the effect of oil prices, using the variables of fragility index and oil price, currency growth rate and GDP growth rate, the vector auto regression model with Markov switching (MSH(3)-VAR(1)) and seasonal data from 2004 to 2019 have been evaluated.The results show that the oil price shock in the stable regime causes a smaller change in the value of the fragility index compared to the other two regimes, and with the increase in GDP, it improves the economic conditions and the banking system. On the other hand, in the regime with moderate risk, the oil price fluctuation causes an increase in bank fragility, but due to the effect of the oil price shock on the increase in GDP and the decrease in the exchange rate, it has the ability to become a stable regime. While the occurrence of oil price shock in a high-risk regime causes economic conditions to worsen and its reciprocal effect on the banking system.
OPEC
Hoda Zobeiri; Mani Motameni; Atefeh Raeisi
Abstract
Natural resource rents theoretically can stimulate entrepreneurship as a production inputs. In other hands, natural resource rents can change intensives of potential entrepreneurs, reduce opportunity driven entrepreneurship and increase necessity driven entrepreneurship. However, necessity driven entrepreneurship ...
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Natural resource rents theoretically can stimulate entrepreneurship as a production inputs. In other hands, natural resource rents can change intensives of potential entrepreneurs, reduce opportunity driven entrepreneurship and increase necessity driven entrepreneurship. However, necessity driven entrepreneurship is not an unproductive activity, but its impact on economic growth and development is very different from entrepreneurial activities that are based on innovative ideas and technologies which determine the productive capabilities of an economy. This paper has examined the effect of natural resource rents on opportunity driven entrepreneurship and necessity driven entrepreneurship in 45 selected countries during 2008-2017 using GMM. The results show that natural resource rents have significant negative impact on opportunity entrepreneurship while it has significant positive impact on necessity entrepreneurship. Based on the results, oil rents managements along with control of corruption and improve institutional framework are necessary to increase opportunity entrepreneurship in oil rich countries.
OPEC
Mohammad Sokhanvar
Abstract
In this paper, government expenditure productivity has been studied in selected countries that are member in Organization of Petroleum Exporting Countries (OPEC) and optimum threshold government size of these countries is determined. For this reason, endogenous Barrow growth model is used that practically ...
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In this paper, government expenditure productivity has been studied in selected countries that are member in Organization of Petroleum Exporting Countries (OPEC) and optimum threshold government size of these countries is determined. For this reason, endogenous Barrow growth model is used that practically applied by Karras. Panel data threshold approach is applied. The reason for selecting these countries for study is that these countries have the same government financial structure such that a high share of budget of these countries depend on the oil revenue. According to available data, eight countries are selected and the period under study is from 2000 to 2014. Estimation findings show that optimum threshold government size of these countries have been estimated 13/58. In addition, findings indicate that before the threshold government size, the productivity of government size has been positive and approximately 0/72 and after the threshold government size, the productivity of government size has been negative and approximately -0/23.
OPEC
Abo Alghasem AsnaAshari; Kamran Nadri; Asghar Abolhasani; Nader Mehregan; Mohammad Reza Babaei
Volume 6, Issue 22 , January 2016, , Pages 102-85
Abstract
Like most of oil exporting countries, Iran’s economy is exposed to the government’s great share of economic activites, complicated monetary and economic policies and a meager activity in production section.Thus a shock in oil price has a significant effect on domestic production, inflation ...
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Like most of oil exporting countries, Iran’s economy is exposed to the government’s great share of economic activites, complicated monetary and economic policies and a meager activity in production section.Thus a shock in oil price has a significant effect on domestic production, inflation and money. On the proposed model of Qu and Perron (2007), the present study Investigates structural shocks of Iran’s economy stemed from exogenous oil price considering the variables of production, inflation and money as independent and endogenous variables during the period from March 1961 to February 2012. Accordingly, five structural shocks have been identified in September 1973, July 1979, May 1990, July 1994 and May 2006. The most considerable effect of oil price on production, inflation and money growth were in the first, first and fifth regimes respectively. Moreover, the longest period of oil price effects on production, inflation and money growth were in forth, second and fifth regimes respectively.
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.
