An Analysis of Asymmetry Effects of Oil Shocks on Economic Growth of the Oil-Exporting Countries: A Non-Liner Hidden Panel Cointegration
Asymmetric effects of oil shocks mean the difference between the positive and negative effects of oil shocks. Empirical studies show that these asymmetric effects can affect economic growth in oil-exporting countries as well as importing countries. In this regard, this paper tries to investigate the...
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| Format: | Article |
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Allameh Tabataba'i University Press
2014-03-01
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| Series: | Pizhūhishnāmah-i Iqtiṣād-i Inirzhī-i Īrān |
| Subjects: | |
| Online Access: | https://jiee.atu.ac.ir/article_539_40f48ccc9c310ee2194753ae089076e5.pdf |
| _version_ | 1827393169217552384 |
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| author | Hamid Molaei Abolghasem Golkhandan Davood Gol Khandan |
| author_facet | Hamid Molaei Abolghasem Golkhandan Davood Gol Khandan |
| author_sort | Hamid Molaei |
| collection | DOAJ |
| description | Asymmetric effects of oil shocks mean the difference between the positive and negative effects of oil shocks. Empirical studies show that these asymmetric effects can affect economic growth in oil-exporting countries as well as importing countries. In this regard, this paper tries to investigate the asymmetric effects of oil shocks on economic growth in oil-exporting countries (including Iran) during the period 1980-2011by using hidden panel Cointegration. This approach, in addition to analyzing the long-term non-liner relationship between the variables, has another important capability for modeling asymmetry between different variables. Firstly, it has been shown that there is a long relationship between cumulative positive and negative components in crude oil prices and GDP in these countries by using Kao panel co-integration (hidden co-integration verification). Then, their long- run asymmetric relationships are measured by using dynamic ordinary least squares (DOLS). The results of this study show the negative effects of oil shocks are more than the positive effects on the economic growth of oil-exporting countries. |
| first_indexed | 2024-03-08T17:44:16Z |
| format | Article |
| id | doaj.art-c0951e94ecd544b0a9cb1be6cf0386f6 |
| institution | Directory Open Access Journal |
| issn | 2423-5954 2476-6437 |
| language | fas |
| last_indexed | 2024-03-08T17:44:16Z |
| publishDate | 2014-03-01 |
| publisher | Allameh Tabataba'i University Press |
| record_format | Article |
| series | Pizhūhishnāmah-i Iqtiṣād-i Inirzhī-i Īrān |
| spelling | doaj.art-c0951e94ecd544b0a9cb1be6cf0386f62024-01-02T10:45:26ZfasAllameh Tabataba'i University PressPizhūhishnāmah-i Iqtiṣād-i Inirzhī-i Īrān2423-59542476-64372014-03-01310201229539An Analysis of Asymmetry Effects of Oil Shocks on Economic Growth of the Oil-Exporting Countries: A Non-Liner Hidden Panel CointegrationHamid Molaei0Abolghasem Golkhandan1Davood Gol Khandan2Assistant Professor of Bu Ali Sina UniversityPhD student in Economics, Lorestan UniversityMaster student of Industrial Management, Arak Azad UniversityAsymmetric effects of oil shocks mean the difference between the positive and negative effects of oil shocks. Empirical studies show that these asymmetric effects can affect economic growth in oil-exporting countries as well as importing countries. In this regard, this paper tries to investigate the asymmetric effects of oil shocks on economic growth in oil-exporting countries (including Iran) during the period 1980-2011by using hidden panel Cointegration. This approach, in addition to analyzing the long-term non-liner relationship between the variables, has another important capability for modeling asymmetry between different variables. Firstly, it has been shown that there is a long relationship between cumulative positive and negative components in crude oil prices and GDP in these countries by using Kao panel co-integration (hidden co-integration verification). Then, their long- run asymmetric relationships are measured by using dynamic ordinary least squares (DOLS). The results of this study show the negative effects of oil shocks are more than the positive effects on the economic growth of oil-exporting countries.https://jiee.atu.ac.ir/article_539_40f48ccc9c310ee2194753ae089076e5.pdfeconomic growthoil-exporting countrieshidden panel co-integrationasymmetrydynamic ordinary least squares (dols) |
| spellingShingle | Hamid Molaei Abolghasem Golkhandan Davood Gol Khandan An Analysis of Asymmetry Effects of Oil Shocks on Economic Growth of the Oil-Exporting Countries: A Non-Liner Hidden Panel Cointegration Pizhūhishnāmah-i Iqtiṣād-i Inirzhī-i Īrān economic growth oil-exporting countries hidden panel co-integration asymmetry dynamic ordinary least squares (dols) |
| title | An Analysis of Asymmetry Effects of Oil Shocks on Economic Growth of the Oil-Exporting Countries: A Non-Liner Hidden Panel Cointegration |
| title_full | An Analysis of Asymmetry Effects of Oil Shocks on Economic Growth of the Oil-Exporting Countries: A Non-Liner Hidden Panel Cointegration |
| title_fullStr | An Analysis of Asymmetry Effects of Oil Shocks on Economic Growth of the Oil-Exporting Countries: A Non-Liner Hidden Panel Cointegration |
| title_full_unstemmed | An Analysis of Asymmetry Effects of Oil Shocks on Economic Growth of the Oil-Exporting Countries: A Non-Liner Hidden Panel Cointegration |
| title_short | An Analysis of Asymmetry Effects of Oil Shocks on Economic Growth of the Oil-Exporting Countries: A Non-Liner Hidden Panel Cointegration |
| title_sort | analysis of asymmetry effects of oil shocks on economic growth of the oil exporting countries a non liner hidden panel cointegration |
| topic | economic growth oil-exporting countries hidden panel co-integration asymmetry dynamic ordinary least squares (dols) |
| url | https://jiee.atu.ac.ir/article_539_40f48ccc9c310ee2194753ae089076e5.pdf |
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