Oil Price Movements and GDP Growth in GCC Countries: Is the Relationship Symmetric?
Indian Journal of Economics and Business 2007, Dec, 6, 2
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Publisher Description
Abstract This paper examines whether oil price movements in one group of oil-exporting countries, namely those of the Gulf Cooperation Council, produce asymmetric effects on GDP growth as is commonly found with oil-importing countries. The paper employs a SUR model regressing annual growth rates against positive and negative changes in oil prices. Some evidence on the presence of asymmetries surfaces but is not overwhelming and is country specific.
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