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Identifying the factors affecting the economic growth of oil-producing countries

Author

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  • Özlem Gül Bozkurt
  • Cumhur Erdem
  • Ä°lhan EroÄŸlu

Abstract

The objective of this study is to identify the factors that have an impact on the economic growth of oil-producing countries. To meet this objective, annual time series data for 28 countries were included in panel data analyses. According to the findings of the first analysis covering the countries with R%D data (19 countries), economic growth is positively affected by the amount of oil exported, export value index, financial openness index, public expenditures on education, foreign direct investment and expenditures on R%D. The findings of the second analysis, covering the countries without R%D data (nine countries), show that export value index, corruption perception index, economic freedom index and external debt have a positive effect on economic growth.

Suggested Citation

  • Özlem Gül Bozkurt & Cumhur Erdem & Ä°lhan EroÄŸlu, 2015. "Identifying the factors affecting the economic growth of oil-producing countries," International Journal of Trade and Global Markets, Inderscience Enterprises Ltd, vol. 8(2), pages 97-111.
    • Handle: RePEc:ids:ijtrgm:v:8:y:2015:i:2:p:97-111
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    Cited by:

    1. Natalia G. Vovchenko & Olga B. Ivanova & Elena D. Kostoglodova & Marina O. Otrishko & Olga S. Dzhu, 2016. "Innovations and Fighting Global Economic Problems," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 10(4), December.
    2. Abida Naurin, 2023. "Is Corruption Perception Index Biased? An Ethnicity Based Analysis," PIDE-Working Papers 2023:11, Pakistan Institute of Development Economics.
    3. Irina A. Morozova & Elena G. Popkova & Tatiana N. Litvinova, 2019. "Sustainable development of global entrepreneurship: infrastructure and perspectives," International Entrepreneurship and Management Journal, Springer, vol. 15(2), pages 589-597, June.
    4. Svetlana G. Vokina & Yulia S. Zima & Nikolai G. Sinyavsky & Vadim Meshkov & Aleksandra V. Sultanova, 2016. "Unification of Economic Systems in the Global Economy: Barriers and Preconditions," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 10(4), December.
    5. Abida Naurin, 2024. "Is Corruption Perception Index Biased? An Ethnicity Based Analysis (Policy)," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 63(1), pages 123-131.

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