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Zahra Mila Elmi

Academic rank: Professor
ORCID:
Education: PhD.
ScopusId:
Faculty: Faculty of Economics and Administrative Sciences
Address:
Phone: 09112153929

Research

Title
Oil Price Shocks and Economic Growth: Evidence from OPEC and OECD
Type
JournalPaper
Keywords
Oil Price Shocks, Economic Growth, OPEC Countries, OECD Countries, VAR Model.
Year
2011
Journal Australian Journal of Basic and Applied Sciences (نامعتبر از اسفند 91)
DOI
Researchers Zahra Mila Elmi ، Mahboobeh Jahadi

Abstract

Oil price fluctuation is the main source of many economic crises. So, it is vital to consider the relationship between oil price shocks and economic growth in all countries specially oil exporting ones. In this study, we consider the effect of oil price shocks on economic growth in some OPEC and OECD countries covering the period 1970 to 2008. First Hodrick-Prescott filter is applied to extract oil price shocks and then, we test the effect of oil price shocks on GDP growth by Vector Auto Regression (VAR) Model. The results show that both OPEC and OECD countries are endangered from oil shocks but to different extent. The experiences of Indonesia and especially Norway can help other oil exporting economies for being independent from oil shocks.