The Impact of Oil Price Shocks on the Economic Growth of Selected Mena Countries

No Thumbnail Available

Date

2010

Authors

Journal Title

Journal ISSN

Volume Title

Publisher

int Assoc Energy Economics

Open Access Color

OpenAIRE Downloads

OpenAIRE Views

Research Projects

Organizational Units

Thumbnail Image
Organizational Unit
Tourism Management
The aim of Atılım University Department of Tourism Management is to train tourism managers who are able to compete at an international level by offering quality education opportunities. Graduates employed as managers in the fields of accommodation, travel, catering, gastronomy, transportation, congress, conference organization begin their professional life while they are still interns. The academic staff consists of faculty members who are experts in their field, as well as sector professionals. With five years of education including the preparatory English courses offered, the courses of the department are in English. The course program consists of applied and theoretical courses devised with respect to the global trends in tourism. Students perform their internship studies at hotel chains, A-Class travel agencies and professional tourism companies. Our Department is in contract with universities abroad within the scope of the Erasmus student Exchange program. With its quality of education documented by TURAK (Tourism Education, Evaluation and Accreditation Board), Atılım university Department of Tourism Management is the first undergraduate program in Turkey to hold the accreditation.

Journal Issue

Events

Abstract

This paper examines how oil price shocks affect the output growth of selected MENA countries that are considered either net exporters or net importers of this commodity, but are too small to affect oil prices. That an individual country's economic performance does not affect world oil prices is imposed on the Vector Autoregressive setting as an identifying restriction. The estimates suggest that oil price increases have a statistically significant and positive effect on the outputs of Algeria, Iran, Iraq, Kuwait, Libya, Oman, Qatar, Syria, and the United Arab Emirates. However, oil price shocks do not appear to have a statistically significant effect on the outputs of Bahrain, Djibouti, Egypt, Israel, Jordan, Morocco, and Tunisia. When we further decompose positive oil shocks such as oil demand and oil supply for the latter set of countries, oil supply shocks are associated with lower output growth but the effect of oil demand shocks on output remain positive.

Description

Keywords

[No Keyword Available]

Turkish CoHE Thesis Center URL

Fields of Science

Citation

WoS Q

Q2

Scopus Q

Q2

Source

Energy Journal

Volume

31

Issue

1

Start Page

149

End Page

176

URI

https://hdl.handle.net/20.500.14411/8794

Collections

Scopus
WOS