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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

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  • Ioannis ANTONIADIS

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

Abstract

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.

Suggested Citation

  • 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.
  • Handle: RePEc:pts:journl:y:2017:i:1:p:34-44
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    References listed on IDEAS

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    1. Hausman, Jerry A & Taylor, William E, 1981. "Panel Data and Unobservable Individual Effects," Econometrica, Econometric Society, vol. 49(6), pages 1377-1398, November.
    2. 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.
    3. 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.
    4. Mercedes Delgado & Christian Ketels & Michael E. Porter & Scott Stern, 2012. "The Determinants of National Competitiveness," NBER Working Papers 18249, National Bureau of Economic Research, Inc.
    5. 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.
    6. 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.
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    8. 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.
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    More about this item

    Keywords

    Oil and gas sector; Competitiveness; Black Sea region; Panel data.;

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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