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Relationship Between Economic Growth and Oil Production in Emerging Countries for the Period 2020–2050

In: Data Analytics Applications in Emerging Markets

Author

Listed:
  • Leovardo Mata Mata

    (Universidad Anahuac)

  • Jaime Humberto Beltran Godoy

    (Universidad Anahuac)

Abstract

An algorithm of dynamic programming in Montecarlo simulation is developed to analyze the international oil market towards the year 2050. The leading oil exporters are considered, and it is found that the positive relationship between economic growth and oil production will go decreasing. The model suggests that the combination of renewable energies, oil, natural gas, and others will be the variable that will influence economic growth, where oil will no longer be the main actor.

Suggested Citation

  • Leovardo Mata Mata & Jaime Humberto Beltran Godoy, 2022. "Relationship Between Economic Growth and Oil Production in Emerging Countries for the Period 2020–2050," Springer Books, in: José Antonio Núñez Mora & M. Beatriz Mota Aragón (ed.), Data Analytics Applications in Emerging Markets, pages 131-144, Springer.
    • Handle: RePEc:spr:sprchp:978-981-19-4695-0_7
    DOI: 10.1007/978-981-19-4695-0_7
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