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Oil Exports, Non Oil GDP and Investment in the GCC Countries

  • Harb, Nasri

This paper studies the long and short-run relationship between oil exports, non oil GDP and investment in five major oil exporting countries. Its goal is to verify the effect of natural resources exports on the economic performance. It considers the effect of cross sectional correlations and uses the corresponding panel unit root tests to study the long-run characteristics of our series. The results show that resources' exports have no long-run relationship with the macro variables. A VAR analysis is used to estimate the short-run dynamics and shows that the effect of oil exports on those variables depends on local policies.

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File URL: http://mpra.ub.uni-muenchen.de/15576/1/MPRA_paper_15576.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 15576.

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Date of creation: 23 Jun 2008
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Handle: RePEc:pra:mprapa:15576
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  16. Aamer Abu-Qarn & Suleiman Abu-Bader, 2001. "The Validity of the ELG Hypothesis in the MENA Region: Cointegration and Error Correction Model Analysis," Working Papers 134, Ben-Gurion University of the Negev, Department of Economics.
  17. Angus Deaton, 1999. "Commodity Prices and Growth in Africa," Journal of Economic Perspectives, American Economic Association, vol. 13(3), pages 23-40, Summer.
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