Does oil production promote economic growth in OPEC countries?

Detalhes bibliográficos
Autor(a) principal: Quaresma, Tânia Noélia Raposo
Data de Publicação: 2013
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.6/3081
Resumo: The oil-growth nexus is studied in a panel of OPEC countries, for a long time span (1960-2011), controlling for the specific context of oil production. Their membership to the cartel put them under a common guidance, which originates phenomena of cross section dependence/contemporaneous correlation in the panel. Recent panel data estimators and cointegration analyses are both pursued and discussed, namely confronting the heterogeneity of panels and the countries specific effects. The Driscoll-Kraay estimator reveals to be appropriate to handle the panel properties. The full comprehension of the oil-growth nexus requires the decomposition in short and long run effects to be done. The growth hypothesis was found only in the short run. The results support the resource curse and prove that the cartel’s long run growth goal is not being accomplished. Actually, both oil production and prices are constraining economic growth in OPEC countries.
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spelling Does oil production promote economic growth in OPEC countries?Consumo de petróleo - Crescimento económicoPreço do petróleo - Mercado internacionalMacro PainéisOil-growth nexusThe oil-growth nexus is studied in a panel of OPEC countries, for a long time span (1960-2011), controlling for the specific context of oil production. Their membership to the cartel put them under a common guidance, which originates phenomena of cross section dependence/contemporaneous correlation in the panel. Recent panel data estimators and cointegration analyses are both pursued and discussed, namely confronting the heterogeneity of panels and the countries specific effects. The Driscoll-Kraay estimator reveals to be appropriate to handle the panel properties. The full comprehension of the oil-growth nexus requires the decomposition in short and long run effects to be done. The growth hypothesis was found only in the short run. The results support the resource curse and prove that the cartel’s long run growth goal is not being accomplished. Actually, both oil production and prices are constraining economic growth in OPEC countries.O nexus consumo de petróleo-crescimento económico é estudado num painel composto por países da OPEP e com um horizonte temporal longo (1960-2011), controlando o contexto específico da produção de petróleo. A pertença destes países ao cartel da OPEP coloca-os sob uma orientação comum, que origina no painel fenómenos de dependência de dados seccionais/correlação contemporânea. Estimadores recentes de dados em painel, assim como, análises de cointegração são utilizados e discutidos, analisando-se, nomeadamente, a heterogeneidade dos painéis e os efeitos específicos dos países. O estimador Driscoll-Kraay revela ser adequado para lidar com as propriedades dos painéis. A compreensão do nexus requere que se proceda à sua decomposição em efeitos de curto e de longo prazo. A “hipótese de crescimento” foi verificada apenas no curto prazo. Os resultados apoiam o fenómeno de “maldição dos recursos” e provam que o objectivo de longo prazo do cartel não está a ser alcançado. Tanto a produção de petróleo como os preços estão a constranger o crescimento económico dos países da OPEP.Fuinhas, José Alberto Serra Ferreira RodriguesMarques, António Manuel CardosouBibliorumQuaresma, Tânia Noélia Raposo2015-02-20T11:12:29Z2013-0620132013-06-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10400.6/3081enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-12-15T09:39:21Zoai:ubibliorum.ubi.pt:10400.6/3081Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T00:44:36.271820Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Does oil production promote economic growth in OPEC countries?
title Does oil production promote economic growth in OPEC countries?
spellingShingle Does oil production promote economic growth in OPEC countries?
Quaresma, Tânia Noélia Raposo
Consumo de petróleo - Crescimento económico
Preço do petróleo - Mercado internacional
Macro Painéis
Oil-growth nexus
title_short Does oil production promote economic growth in OPEC countries?
title_full Does oil production promote economic growth in OPEC countries?
title_fullStr Does oil production promote economic growth in OPEC countries?
title_full_unstemmed Does oil production promote economic growth in OPEC countries?
title_sort Does oil production promote economic growth in OPEC countries?
author Quaresma, Tânia Noélia Raposo
author_facet Quaresma, Tânia Noélia Raposo
author_role author
dc.contributor.none.fl_str_mv Fuinhas, José Alberto Serra Ferreira Rodrigues
Marques, António Manuel Cardoso
uBibliorum
dc.contributor.author.fl_str_mv Quaresma, Tânia Noélia Raposo
dc.subject.por.fl_str_mv Consumo de petróleo - Crescimento económico
Preço do petróleo - Mercado internacional
Macro Painéis
Oil-growth nexus
topic Consumo de petróleo - Crescimento económico
Preço do petróleo - Mercado internacional
Macro Painéis
Oil-growth nexus
description The oil-growth nexus is studied in a panel of OPEC countries, for a long time span (1960-2011), controlling for the specific context of oil production. Their membership to the cartel put them under a common guidance, which originates phenomena of cross section dependence/contemporaneous correlation in the panel. Recent panel data estimators and cointegration analyses are both pursued and discussed, namely confronting the heterogeneity of panels and the countries specific effects. The Driscoll-Kraay estimator reveals to be appropriate to handle the panel properties. The full comprehension of the oil-growth nexus requires the decomposition in short and long run effects to be done. The growth hypothesis was found only in the short run. The results support the resource curse and prove that the cartel’s long run growth goal is not being accomplished. Actually, both oil production and prices are constraining economic growth in OPEC countries.
publishDate 2013
dc.date.none.fl_str_mv 2013-06
2013
2013-06-01T00:00:00Z
2015-02-20T11:12:29Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.6/3081
url http://hdl.handle.net/10400.6/3081
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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