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Oil Exports And Economic Growth In The Middle East

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  • M. M. Metwally
  • H. U. Tamaschke

Abstract

This study represents an econometric investigation into the role played by exports in the process of economic development of the major oil producers in North Africa and the Middle‐East over the past two decades. Single as well as simultaneous equation models were tested using aggregate and disaggregate data. Aggregate real analysis suggests that there is little evidence of spread effects of oil exports to the rest of the economy. Sectoral analysis indicates that the expansion in oil exports was not fully exploited in stimulating the manufacturing sector. Aggregate and disaggregate investment analysis clearly suggests that gross fixed capital formation, limited as may be, is extremely sensitive to growth in oil exports in all countries considered with the exception of Kuwait and Libya. The statistical results of the simultaneous relationships suggest the absence of feedback effects.

Suggested Citation

  • M. M. Metwally & H. U. Tamaschke, 1980. "Oil Exports And Economic Growth In The Middle East," Kyklos, Wiley Blackwell, vol. 33(3), pages 499-522, August.
    • Handle: RePEc:bla:kyklos:v:33:y:1980:i:3:p:499-522
    DOI: 10.1111/j.1467-6435.1980.tb02645.x
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    Cited by:

    1. Al-Tuwaijri, Abdulrahman, 1985. "Exploration of optimal strategies for the development of an oil-based economy: the case of Saudi Arabia," ISU General Staff Papers 1985010108000013123, Iowa State University, Department of Economics.
    2. Metwally, M.M., 2004. "Determinants of Aggregate Imports in the GCC countries," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 4(3).
    3. Badreldin Mohamed Ahmed Abdulrahman, 2021. "Oil and Non-oil Export and its Impact on Economic Performance in Saudi Arabia," International Journal of Energy Economics and Policy, Econjournals, vol. 11(1), pages 88-92.

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