IDEAS home Printed from https://ideas.repec.org/a/pts/journl/y2017i1p34-44.html
   My bibliography  Save this article

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

Author

Listed:
  • 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
    as

    Download full text from publisher

    File URL: http://economic.upit.ro/repec/pdf/2017_1_4.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    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 - Leibniz Information Centre for 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. 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.
    4. Mohammad R. Jahan-Parvar & Hassan Mohammadi, 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.
    5. 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.
    6. 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.
    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. Katerina Kalcheva & Nienke Oomes, 2007. "Diagnosing Dutch Disease; Does Russia Have the Symptoms?," IMF Working Papers 2007/102, International Monetary Fund.
    11. 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.
    12. 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.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Elkhan Richard Sadik-Zada & Wilhelm Loewenstein & Yadulla Hasanli, 2019. "Commodity Revenues, Agricultural Sector and the Magnitude of Deindustrialization: A Novel Multisector Perspective," Economies, MDPI, Open Access Journal, vol. 7(4), pages 1-15, November.
    2. Tuzova, Yelena & Qayum, Faryal, 2016. "Global oil glut and sanctions: The impact on Putin’s Russia," Energy Policy, Elsevier, vol. 90(C), pages 140-151.
    3. Dennis Nchor & Tomáš Konderla, 2016. "Economic Multipliers and Sectoral Linkages: Ghana and the New Oil Sector," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 64(2), pages 635-642.
    4. Oh, Chang Hoon & Travis Selmier, W. & Lien, Donald, 2011. "International trade, foreign direct investment, and transaction costs in languages," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 40(6), pages 732-735.
    5. Boumahdi, Rachid & Thomas, Alban, 2006. "Instrument relevance and efficient estimation with panel data," Economics Letters, Elsevier, vol. 93(2), pages 305-310, November.
    6. Putsis, William Jr. & Dhar, Ravi, 2001. "An empirical analysis of the determinants of category expenditure," Journal of Business Research, Elsevier, vol. 52(3), pages 277-291, June.
    7. Daron Acemoglu & Philippe Aghion & Claire Lelarge & John Van Reenen & Fabrizio Zilibotti, 2007. "Technology, Information, and the Decentralization of the Firm," The Quarterly Journal of Economics, Oxford University Press, vol. 122(4), pages 1759-1799.
    8. T.R.L. Fry & R.D. Brooks & Br. Comley & J. Zhang, 1993. "Economic Motivations for Limited Dependent and Qualitative Variable Models," The Economic Record, The Economic Society of Australia, vol. 69(2), pages 193-205, June.
    9. Blanco, Luisa & Grier, Robin, 2012. "Natural resource dependence and the accumulation of physical and human capital in Latin America," Resources Policy, Elsevier, vol. 37(3), pages 281-295.
    10. Régis BRETON & Sébastien GALANTI & Christophe HURLIN & Anne-Gaël VAUBOURG, 2011. "Does the firm-analyst relationship matter in explaining analysts' earnings forecast errors?," LEO Working Papers / DR LEO 469, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    11. Heitmueller, Axel, 2005. "A Note on Decompositions in Fixed Effects Models in the Presence of Time-Invariant Characteristics," IZA Discussion Papers 1886, Institute of Labor Economics (IZA).
    12. Pedro E. Moncarz, 2010. "Determinantes del comercio de servicios financieros Potencial de exportaciones para los países sudamericanos," Documentos de trabajo 2010019, Banco Central del Uruguay.
    13. Liverpool-Tasie, Lenis Saweda O. & Winter-Nelson, Alex, 2009. "Poverty status and the impact of social networks on smallholder technology adoption in rural Ethiopia," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin 49357, Agricultural and Applied Economics Association.
    14. Florent Silve & Alexander Plekhanov, 2018. "Institutions, innovation and growth : Evidence from industry data," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 26(3), pages 335-362, July.
    15. Hailu, Degol & Kipgen, Chinpihoi, 2017. "The Extractives Dependence Index (EDI)," Resources Policy, Elsevier, vol. 51(C), pages 251-264.
    16. Matthias Firgo & Peter Mayerhofer, 2015. "Wissens-Spillovers und regionale Entwicklung - welche strukturpolitische Ausrichtung optimiert des Wachstum?," Working Paper Reihe der AK Wien - Materialien zu Wirtschaft und Gesellschaft 144, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik.
    17. Carlos Morales, 2011. "Variedades de recursos naturales y crecimiento económico," Revista Desarrollo y Sociedad, Universidad de los Andes - CEDE, December.
    18. 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.
    19. Sheahan, Megan & Black, Roy & Jayne, T.S., 2013. "Are Kenyan farmers under-utilizing fertilizer? Implications for input intensification strategies and research," Food Policy, Elsevier, vol. 41(C), pages 39-52.
    20. Dutrénit, Gabriela & Natera, José Miguel & Puchet Anyul, Martín & Vera-Cruz, Alexandre O., 2019. "Development profiles and accumulation of technological capabilities in Latin America," Technological Forecasting and Social Change, Elsevier, vol. 145(C), pages 396-412.

    More about this item

    Keywords

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

    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

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pts:journl:y:2017:i:1:p:34-44. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Alina Hagiu). General contact details of provider: https://edirc.repec.org/data/fepitro.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.