مجلة الدراسات المالية والمحاسبية والإدارية
Volume 9, Numéro 2, Pages 509-524
2022-12-31

The Impact Of Oil Price Changes On Economic Growth In Arab Oil-exporting Countries: Econometric Study Using The Panel Data For The Period (2000-2021)

Authors : Bounihi Meriem .

Abstract

The aim of this study is to examine the impact of oil price changes on economic growth in Arab oil-exporting countries using the panel data for the period (2000-2021). The results of the estimation of random effects model (REM) revealed that there is a statistical significance between oil price changes and the Gross Domestic Product (GDP) of the countries under study, as a 1% change in oil price causes a 0.82% change in GDP in the same direction, meaning that any increase or decrease in oil price will have a direct impact on economic growth of these countries, which indicates the weakness and fragility of their economies.

Keywords

Oil price ; Economic growth ; Arab oil-exporting countries ; Panel data