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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

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    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)

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    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

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