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Oil Exports, Non-Oil GDP, and Investment in the GCC Countries

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  • Nasri Harb

Abstract

This paper studies the long-run and short-run relationships between oil exports, non-oil GDP, and investment in five major oil-exporting countries. Its goal is to verify the effect of natural resources exports on economic performance. It considers the effect of cross-sectional correlations and uses the corresponding panel unit-root tests to study the long-run characteristics of the data series. The results show that resources' exports have no long-run relationship with the macroeconomic variables. A VAR analysis is used to estimate the short-run dynamics and shows that the effect of oil exports on those variables depends on local policies. Copyright © 2009 Blackwell Publishing Ltd.

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  • Nasri Harb, 2009. "Oil Exports, Non-Oil GDP, and Investment in the GCC Countries," Review of Development Economics, Wiley Blackwell, vol. 13(4), pages 695-708, November.
  • Handle: RePEc:bla:rdevec:v:13:y:2009:i:4:p:695-708
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    Citations

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    Cited by:

    1. Roman Horváth & Ayaz Zeynalov, 2014. "The Natural Resource Curse in Post-Soviet Countries : The Role of Institutions and Trade Policies," Working Papers 341, Leibniz Institut für Ost- und Südosteuropaforschung (Institute for East and Southeast European Studies).
    2. Horváth, Roman & Zeynalov, Ayaz, 2016. "Natural resources, manufacturing and institutions in post-Soviet countries," Resources Policy, Elsevier, vol. 50(C), pages 141-148.

    More about this item

    JEL classification:

    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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