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The Effect of Oil Price Falling on the Jordanian Economic System

Author

Listed:
  • Asem Tahtamouni

    (American University of Madaba, P. O. Box: 2882, Amman 11821, Jordan,)

  • Fouzan Al Qaisi

    (American University of Madaba, P. O. Box: 2882, Amman 11821, Jordan)

  • Usama Adnan Fendi

    (American University of Madaba, P. O. Box: 2882, Amman 11821, Jordan,)

Abstract

Because oil is one of the most important commodities, its price impacts the economy as a whole. The oil price has dropped significantly during last years due to the growing gap between demand and supply. Jordanis a small country with a small market business and scarce natural resources, essential the government's hefty reliance on external assistance. This paper aims to evaluate the effect of oil price falling on the Jordanian economic system. Simple regression model has been used to evaluate the relationship between dependent and independent variables. It has been examined the variables between the period 2006 to 2015. The results show that the fall in oil prices impact on the Jordanian economy.

Suggested Citation

  • Asem Tahtamouni & Fouzan Al Qaisi & Usama Adnan Fendi, 2017. "The Effect of Oil Price Falling on the Jordanian Economic System," International Journal of Economics and Financial Issues, Econjournals, vol. 7(5), pages 282-289.
    • Handle: RePEc:eco:journ1:2017-05-34
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    References listed on IDEAS

    as
    1. Aziz Atamanov & Jon Jellema & Umar Serajuddin, 2017. "Energy Subsidies Reform in Jordan: Welfare Implications of Different Scenarios," Natural Resource Management and Policy, in: Paolo Verme & Abdlekrim Araar (ed.), The Quest for Subsidy Reforms in the Middle East and North Africa Region, chapter 0, pages 179-206, Springer.
    2. Mohaddes Kamiar & Raissi Mehdi, 2013. "Oil Prices, External Income, and Growth: Lessons from Jordan," Review of Middle East Economics and Finance, De Gruyter, vol. 9(2), pages 99-131, August.
    3. Mr. Aasim M. Husain & Mr. Rabah Arezki & Mr. Peter Breuer & Mr. V. Haksar & Mr. Thomas Helbling & Mr. Paulo A Medas & Mr. Martin Sommer, 2015. "Global Implications of Lower Oil Prices," IMF Staff Discussion Notes 2015/015, International Monetary Fund.
    4. Aasim M. Husain & Rabah Arezki & Peter Breuer & Vikram Haksar & Thomas Helbling & Paulo A Medas & Martin Sommer, 2015. "Global Implications of Lower Oil Prices," IMF Staff Discussion Notes 15/15, International Monetary Fund.
    5. Atamanov Aziz & Jon Jellema & Umar Serajuddin, 2015. "Energy Subsidies Reform in Jordan," World Bank Publications - Reports 22051, The World Bank Group.
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    Citations

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    Cited by:

    1. Mohammad Aladwan & Mohammaad Almaharmeh & Husni Samara, 2023. "Modeling and Mediating the Interaction between Oil Prices and Economic Sectors Advancement: The Case of Middle East," International Journal of Energy Economics and Policy, Econjournals, vol. 13(2), pages 51-60, March.
    2. Rasha Istaiteyeh, 2024. "Short-and Long-run Influence of COVID-19 on Jordan's Economy," Advances in Management and Applied Economics, SCIENPRESS Ltd, vol. 14(1), pages 1-1.

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    More about this item

    Keywords

    Oil Price; Jordanian Economy; Trade of Balance; Gross Domestic Product.;
    All these keywords.

    JEL classification:

    • F1 - International Economics - - Trade
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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