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Are There Any Asymmetric Responses Of Oil Price Shocks To Gdp Growth? A Review Of Literature

Author

Listed:
  • OSMANI, Md Ataul Gani

    (Varendra University, Rajshahi, Bangladesh)

  • PANAIT, Mirela

    (Petroleum-Gas University of Ploiesti, Romania)

  • APOSTU, Simona Andreea

    (Bucharest University of Economic Studies, Bucharest, Romania)

  • JANJUA, Laeeq Razzak

    (Vistula University- Poland)

Abstract

This study focuses on the well-established fact about the relationship between volatility of oil prices and economic growth in sample oil exporting and importing countries. A systematic literature review is used to explore the related scientific studies and the collected metadata has been analyzed systematically to disclose the asymmetric responses of oil price shocks to GDP growth. It is revealed that the impact of oil price shocks on growth varies from short to long-run, from one country to another depending on economic characters. Sometimes found symmetric but often asymmetric responses of oil price shocks to GDP growth has been observed by scientific researchers in both oil exporting and importing countries. Therefore, the ambiguity of the relationship demands international oil price stabilization polices.

Suggested Citation

  • OSMANI, Md Ataul Gani & PANAIT, Mirela & APOSTU, Simona Andreea & JANJUA, Laeeq Razzak, 2022. "Are There Any Asymmetric Responses Of Oil Price Shocks To Gdp Growth? A Review Of Literature," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 10(1), pages 276-283, October.
    • Handle: RePEc:vls:rojfme:v:10:y:2022:i:1:p:276-283
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    References listed on IDEAS

    as
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    Keywords

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    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations

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