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The Impact of Oil Sector on the Global Competitiveness of GCC Countries: Panel Data Approach

Author

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  • Qudah, Anas Al
  • Badawi, Ahmed
  • AboElsoud, Mostafa E.

Abstract

This study explores the impact of oil sector on global competitiveness of the GCC states in a panel data framework for the period from 2006 to 2014. The focus is placed on how the non-traditional factors; oil rents, fuel exports as percentage of merchandise exports, oil prices, and mining sector production impact on the global competitiveness of the GCC nations. The study uses panel data techniques to measure the effect of the oil sector’s impact on of global competitiveness of the GCC countries. The results of the regression show that the relation between rent and GCI found to be negative and highly significant whereas the oil prices and contribution of the mining sector in GDP found to have positive relation with GCI at 90% significance level. Finally, fuel exports as percentage of the merchandise exports has insignificant relation with GCI.

Suggested Citation

  • Qudah, Anas Al & Badawi, Ahmed & AboElsoud, Mostafa E., 2016. "The Impact of Oil Sector on the Global Competitiveness of GCC Countries: Panel Data Approach," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 7(20), pages 32-39.
    • Handle: RePEc:zbw:espost:148274
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    File URL: https://www.econstor.eu/bitstream/10419/148274/1/The%20Impact%20of%20Oil%20Sector%20on%20the%20Global%20Competitiveness%20of%20GCC%20Countries_Panel%20.pdf
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    References listed on IDEAS

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    1. Fagerberg, Jan, 1996. "Technology and Competitiveness," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 12(3), pages 39-51, Autumn.
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    Cited by:

    1. Honorata Nyga-Łukaszewska & Tomasz M. Napiórkowski, 2022. "Does Energy Demand Security Affect International Competitiveness? Case of Selected Energy-Exporting OECD Countries," Energies, MDPI, vol. 15(6), pages 1-19, March.
    2. Ahmed Badawi & Anas Al Qudah & Waleed M. Rashideh, 2019. "Determinants of foreign portfolio investment in emerging markets: evidence from Saudi stock market," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 43(4), pages 779-794, October.
    3. Ioannis ANTONIADIS, 2017. "Exploring The Linkage Between Oil And Gas Sector And Competitiveness: A Panel Data Analysis For The Countries Of The Black Sea Region," Scientific Bulletin - Economic Sciences, University of Pitesti, vol. 16(1), pages 34-44.

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    More about this item

    Keywords

    Oil Sector; Global Competitiveness; GCC Countries; Panel Data;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications
    • F11 - International Economics - - Trade - - - Neoclassical Models of Trade
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade

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