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Does oil consumption promote economic growth in oil producers?

2015Journal article Restricted access
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dc.contributor.authorFuinhas, José Alberto
dc.contributor.authorMarques, António Cardoso
dc.contributor.authorQuaresma, Tânia Noélia Raposo
dc.date.accessioned2019-01-14T10:14:37Z
dc.date.available2019-01-14T10:14:37Z
dc.date.issued2015
dc.description.abstractPurpose – The oil-growth nexus is studied in a panel of Organization of the Petroleum Exporting Countries (OPECs), for a long time span (1960-2011), controlling for the specific context of oil production. Their membership in the cartel put them under a common guidance, which originates phenomena of cross-section dependence/contemporaneous correlation in the panel. Design/methodology/approach – Recent panel data estimators and co-integration analyses are both pursued and discussed, namely, dealing with the heterogeneity of panels and the countries’ specific effects. The Driscoll–Kraay estimator proves to be appropriate in handling the panel properties. Findings – Full understanding of the oil-growth nexus requires the short- and long-run effects to be broken down. The growth hypothesis was found only in the short run. The results suggest the presence of the resource curse phenomenon and prove that the cartel’s long-run growth goal could not being fully accomplished. Actually, both oil production and prices are not promoting economic growth in OPEC countries. Originality/value – The focus is on a group of countries which, besides being oil exporters, have na institutional connection between them, i.e. the OPEC cartel. The paper also contributes by framing the relationship between oil consumption and economic growth within a context of countries that are primary energy producers. Additionally, the paper uses a novel econometric approach and a long time span (52 years) not testedpt_PT
dc.description.versioninfo:eu-repo/semantics/publishedVersionpt_PT
dc.identifier.doi10.1108/IJESM-03-2014-0003pt_PT
dc.identifier.urihttp://hdl.handle.net/10400.6/6755
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.subjectEconometricpt_PT
dc.subjectResource cursept_PT
dc.subjectExportspt_PT
dc.subjectFossil fuelpt_PT
dc.subjectDynamic regressionpt_PT
dc.subjectMacro panelspt_PT
dc.subjectOil-growth nexuspt_PT
dc.subjectOPECpt_PT
dc.titleDoes oil consumption promote economic growth in oil producers?pt_PT
dc.title.alternativeEvidence from OPEC countriespt_PT
dc.typejournal article
dspace.entity.typePublication
oaire.citation.endPage335pt_PT
oaire.citation.issue3pt_PT
oaire.citation.startPage323pt_PT
oaire.citation.volume9pt_PT
person.familyNameFuinhas
person.familyNameMarques
person.givenNameJosé Alberto
person.givenNameAntónio Cardoso
person.identifierR-000-7ZC
person.identifier1880954
person.identifier.ciencia-id7817-FFB9-9DC0
person.identifier.ciencia-idBE19-EAEF-30CF
person.identifier.orcid0000-0002-6937-5420
person.identifier.orcid0000-0002-9906-3874
person.identifier.ridP-1603-2017
person.identifier.ridD-2235-2011
person.identifier.scopus-author-id36168979700
person.identifier.scopus-author-id36169680100
rcaap.embargofctCopyright cedido à editora no momento da publicaçãopt_PT
rcaap.rightsclosedAccesspt_PT
rcaap.typearticlept_PT
relation.isAuthorOfPublication3261ccf1-fcd4-48ad-bf1d-a8834c5f17ad
relation.isAuthorOfPublication0dfb8b49-b2ad-4a47-8478-a3ac0a8c639f
relation.isAuthorOfPublication.latestForDiscovery3261ccf1-fcd4-48ad-bf1d-a8834c5f17ad

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