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Exploring The Linkage Between Oil And Gas Sector And Competitiveness: A Panel Data Analysis For The Countries Of The Black Sea Region

Listed author(s):
  • Ioannis ANTONIADIS

    ()

    (Department of Business Administration, Western Macedonia University of Applied Sciences, Greece)

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    The aim of this paper is to investigate the impact that oil and gas sector has on the global competitiveness of the economies of the countries of the Black Sea Region, measured by the Global Competitiveness Index, with the use of unbalanced panel data techniques for the period from 2006 to 2015. Factors concerning oil and gas sector as fuel exports, oil and gas prices, oil rents, and governance are used as independent variables. Both fixed and random effects models are estimated, and the validity of these models is assessed with the use of Hausman test. Our results are discussed and compared to relevant literature concerning other oil and gas producing regions.

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    Article provided by University of Pitesti in its journal Scientific Bulletin - Economic Sciences.

    Volume (Year): 16 (2017)
    Issue (Month): 1 ()
    Pages: 34-44

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    Handle: RePEc:pts:journl:y:2017:i:1:p:34-44
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    1. 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, ZBW - German National Library of Economics, pages 32-39.
    2. Hausman, Jerry A & Taylor, William E, 1981. "Panel Data and Unobservable Individual Effects," Econometrica, Econometric Society, vol. 49(6), pages 1377-1398, November.
    3. Katerina Kalcheva & Nienke Oomes, 2007. "Diagnosing Dutch Disease; Does Russia Have the Symptoms?," IMF Working Papers 07/102, International Monetary Fund.
    4. Vasily Astrov & Peter Havlik, 2008. "Economic Developments in the Wider Black Sea Region," wiiw Research Reports 349, The Vienna Institute for International Economic Studies, wiiw.
    5. Mohammad R. Jahan-Parvar, 2009. "Oil prices and competitiveness: time series evidence from six oil-producing countries," Journal of Economic Studies, Emerald Group Publishing, vol. 36(1), pages 98-118, January.
    6. Sabiroglu, Ilkin M. & Bashirli, Samad, 2012. "Input–output analysis in an oil-rich economy: The case of Azerbaijan," Resources Policy, Elsevier, vol. 37(1), pages 73-80.
    7. Lall, Sanjaya, 2001. "Competitiveness Indices and Developing Countries: An Economic Evaluation of the Global Competitiveness Report," World Development, Elsevier, vol. 29(9), pages 1501-1525, September.
    8. Corina GRIBINCEA & Anastasiia GAVIUK, 2015. "The Overview Of The Main Gas Pipelines In The Black Sea Region: Political And Economic Aspects," ECONOMY AND SOCIOLOGY: Theoretical and Scientifical Journal, Socionet;Complexul Editorial "INCE", issue 2, pages 99-106.
    9. Katsuya Ito, 2010. "The Impact of Oil Price Volatility on Macroeconomic Activity in Russia," Economic Analysis Working Papers (2002-2010). Atlantic Review of Economics (2011-2016), Colexio de Economistas de A Coruña, Spain and Fundación Una Galicia Moderna, vol. 9, pages 1-21, July.
    10. Ciarreta, Aitor & Nasirov, Shahriyar, 2012. "Development trends in the Azerbaijan oil and gas sector: Achievements and challenges," Energy Policy, Elsevier, vol. 40(C), pages 282-292.
    11. Mikesell, Raymond F, 1997. "Explaining the resource curse, with special reference to mineral-exporting countries," Resources Policy, Elsevier, vol. 23(4), pages 191-199, December.
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