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An ARDL investigation on the nexus of oil factors and economic growth: A timeseries evidence from Sultanate of Oman

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  • Sarfaraz Javed
  • Uvesh Husain
  • Muhammad Shafiullah

Abstract

The study is conducted to comprehend the relation of the oil sector with Oman’s economic growth. Oman is an abundant oil country, and the oil sector plays an influential part in its economic development. The data were gathered from a range of 1989 to 2018 from the National Center for Statistics and Information of Oman; it published the statistical year for variables including oil revenue, oil price, gross capital formation, total revenue, and production or export of Crude Oil. The data were analyzed with the help of the ARDL cointegration approach and Granger causality test. The results enlighten that economic performance is significantly affected by the oil price, crude oil production, and gross capital formation, and the total revenue and oil revenue insignificantly influence it. The impact of export has a substantial adverse influence on economic growth. The variables have long-run granger cause on each other while short-run causal bidirectional relation exists among economic performance, crude oil production, and export of Crude Oil. The study helps Oman’s Government understand the importance of the oil sector and aids in maintaining or forecasting the oil revenue and government spending to retain a stable economy.

Suggested Citation

  • Sarfaraz Javed & Uvesh Husain & Muhammad Shafiullah, 2020. "An ARDL investigation on the nexus of oil factors and economic growth: A timeseries evidence from Sultanate of Oman," Cogent Economics & Finance, Taylor & Francis Journals, vol. 8(1), pages 1838418-183, January.
    • Handle: RePEc:taf:oaefxx:v:8:y:2020:i:1:p:1838418
    DOI: 10.1080/23322039.2020.1838418
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    Cited by:

    1. Abedalqader Rababah & Sarfaraz Javed & Azam Malik, 2022. "Is Social Capital a Key Factor to enhance Firm’s Performance via Manager’s Intangible Capabilities?," IIM Kozhikode Society & Management Review, , vol. 11(2), pages 207-221, July.
    2. Ebi, Bassey Okon & Aladejare, Samson Adeniyi, 2022. "Oil Price Transmission, Deficit Financing and Capital Formation," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 56(1), pages 123-133.
    3. Feras Izzat Kasasbeh, 2021. "Impact of financing decisions ratios on firm accounting-based performance: evidence from Jordan listed companies," Future Business Journal, Springer, vol. 7(1), pages 1-10, December.
    4. Charlie Tatenda Mukaro & Abraham Deka & Sylvester Rukani, 2023. "The influence of intellectual capital on organizational performance," Future Business Journal, Springer, vol. 9(1), pages 1-14, December.
    5. Sarfaraz Javed & Uvesh Husain, 2021. "Corporate CSR practices and corporate performance: managerial implications for sustainable development," DECISION: Official Journal of the Indian Institute of Management Calcutta, Springer;Indian Institute of Management Calcutta, vol. 48(2), pages 153-164, June.

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