IDEAS home Printed from https://ideas.repec.org/a/aes/jsesro/v2y20153i1p31-50.html
   My bibliography  Save this article

A Macro –Econometric Study Of Oil Energy:Opaep Panel’S Data Analysis

Author

Listed:
  • Mostefa BELMOKADDEM

    (Faculty o f Economics and Commerce, University of Tlemcen, Algeria)

  • Sidi Mohamed Boumediene KHETIB

    (Faculty o f Economics and Commerce, University of Tlemcen, Algeria)

  • Mohamed Seghir GUELLIL

    (Faculty o f Economics and Commerce, University of Tlemcen, Algeria)

Abstract

The interest of this paper is to show the relationship GDP - Oil Production, that is to say that the trajectory of GDP is subject to oil production because a shortage in the oil sector will influence all other sectors therefore automatically GDP will decline. We will try to prove this relationship by applying the method of analysis of panel data on the member’s countries of OAPEC. Previously, it was very difficult to make a logical explanation of changes in GDP because economists could not make a correct calculation because they are only interested in oil prices. The reason for using the analysis of panel data is that this method will allow us to proceed with the estimation of an equation valid for all countries by obtaining values of GDP and oil production in order to confirm that it is a relationship between GDP and oil production responding to the hypothesis posed at the beginning.

Suggested Citation

  • Mostefa BELMOKADDEM & Sidi Mohamed Boumediene KHETIB & Mohamed Seghir GUELLIL, 2013. "A Macro –Econometric Study Of Oil Energy:Opaep Panel’S Data Analysis," Journal of Social and Economic Statistics, Bucharest University of Economic Studies, vol. 2(1), pages 31-50, JULY.
    • Handle: RePEc:aes:jsesro:v:2:y:20153:i:1:p:31-50
    as

    Download full text from publisher

    File URL: http://jses.ase.ro/downloads/Vol2NO1/213belmokaddem.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Darby, Michael R, 1982. "The Price of Oil and World Inflation and Recession," American Economic Review, American Economic Association, vol. 72(4), pages 738-751, September.
    2. Maddala, G S, 1971. "The Use of Variance Components Models in Pooling Cross Section and Time Series Data," Econometrica, Econometric Society, vol. 39(2), pages 341-358, March.
    3. Hamilton, James D, 1983. "Oil and the Macroeconomy since World War II," Journal of Political Economy, University of Chicago Press, vol. 91(2), pages 228-248, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hamdi, Helmi & Sbia, Rashid, 2013. "Dynamic relationships between oil revenues, government spending and economic growth in an oil-dependent economy," Economic Modelling, Elsevier, vol. 35(C), pages 118-125.
    2. Dong Kim, 2012. "What is an oil shock? Panel data evidence," Empirical Economics, Springer, vol. 43(1), pages 121-143, August.
    3. Pham T. T. Trinh & Bui T. T. My, 2023. "The impact of world oil price shocks on macroeconomic variables in Vietnam: the transmission through domestic oil price," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 37(1), pages 67-87, May.
    4. Awerbuch, Shimon & Sauter, Raphael, 2006. "Exploiting the oil-GDP effect to support renewables deployment," Energy Policy, Elsevier, vol. 34(17), pages 2805-2819, November.
    5. Aharon, David Y. & Azman Aziz, Mukhriz Izraf & Kallir, Ido, 2023. "Oil price shocks and inflation: A cross-national examination in the ASEAN5+3 countries," Resources Policy, Elsevier, vol. 82(C).
    6. Taiwo Akinlo, 2024. "Oil price and real sector in oil-importing countries: an asymmetric analysis of sub-Saharan Africa," Economic Change and Restructuring, Springer, vol. 57(1), pages 1-27, February.
    7. Peter Ferderer, J., 1996. "Oil price volatility and the macroeconomy," Journal of Macroeconomics, Elsevier, vol. 18(1), pages 1-26.
    8. Ben S. Bernanke & Mark Gertler & Mark Watson, 1997. "Systematic Monetary Policy and the Effects of Oil Price Shocks," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 28(1), pages 91-157.
    9. Prasad, Arti & Narayan, Paresh Kumar & Narayan, Jashwini, 2007. "Exploring the oil price and real GDP nexus for a small island economy, the Fiji Islands," Energy Policy, Elsevier, vol. 35(12), pages 6506-6513, December.
    10. Nusair, Salah A., 2019. "Oil price and inflation dynamics in the Gulf Cooperation Council countries," Energy, Elsevier, vol. 181(C), pages 997-1011.
    11. Andreas Beyer & Vitor Gaspar & Christina Gerberding & Otmar Issing, 2013. "Opting Out of the Great Inflation: German Monetary Policy after the Breakdown of Bretton Woods," NBER Chapters, in: The Great Inflation: The Rebirth of Modern Central Banking, pages 301-346, National Bureau of Economic Research, Inc.
    12. Lacheheb, Miloud & Sirag, Abdalla, 2019. "Oil price and inflation in Algeria: A nonlinear ARDL approach," The Quarterly Review of Economics and Finance, Elsevier, vol. 73(C), pages 217-222.
    13. Lukman Oyeyinka Oyelami & P.A. Olomola, 2016. "External shocks and macroeconomic responses in Nigeria: A global VAR approach," Cogent Economics & Finance, Taylor & Francis Journals, vol. 4(1), pages 1239317-123, December.
    14. Peersman, Gert & Van Robays, Ine, 2012. "Cross-country differences in the effects of oil shocks," Energy Economics, Elsevier, vol. 34(5), pages 1532-1547.
    15. Yuksel BAYRAKTAR, & Taha EGRI, & Furkan YILDIZ, 2016. "A Causal Relationship Between Oil Prices Current Account Deficit, And Economic Growth: An Empirical Analysis From Fragile Five Countries," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 5(Special I), pages 1-3, august.
    16. Mustafa Kocoglu & Phouphet Kyophilavong & Ashar Awan & So Young Lim, 2023. "Time-varying causality between oil price and exchange rate in five ASEAN economies," Economic Change and Restructuring, Springer, vol. 56(2), pages 1007-1031, April.
    17. Hanabusa, Kunihiro, 2012. "The effect of 107th OPEC Ordinary Meeting on oil prices and economic performances in Japan," Renewable and Sustainable Energy Reviews, Elsevier, vol. 16(3), pages 1666-1672.
    18. Ju, Keyi & Su, Bin & Zhou, Dequn & Zhang, Yuqiang, 2016. "An incentive-oriented early warning system for predicting the co-movements between oil price shocks and macroeconomy," Applied Energy, Elsevier, vol. 163(C), pages 452-463.
    19. Lee, Bi-Juan & Yang, Chin Wei & Huang, Bwo-Nung, 2012. "Oil price movements and stock markets revisited: A case of sector stock price indexes in the G-7 countries," Energy Economics, Elsevier, vol. 34(5), pages 1284-1300.
    20. Ishita Ghoshal, 2022. "Cost-Push and Demand-Pull Inflation in India ? A Frequency Domain Analysis," Proceedings of Economics and Finance Conferences 13015641, International Institute of Social and Economic Sciences.

    More about this item

    Keywords

    oil economy; OAPEC; macro-econometric modeling; trajectory of GDP; oil production; analysis of panel data; economic growth;
    All these keywords.

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B23 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Econometrics; Quantitative and Mathematical Studies
    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • N55 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Asia including Middle East

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aes:jsesro:v:2:y:20153:i:1:p:31-50. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Bogdan-Vasile Ileanu (email available below). General contact details of provider: https://edirc.repec.org/data/aseeero.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.