Research Journal of Applied Sciences
ISSN: Online 1993-6079ISSN: Print 1815-932x
Abstract
The goal of this study is reviewing the effects of oil shocks on economic growth in eight selected countries of Middle East. Firstly by using of hoodric-prescott Filter method the oil price was calculated and then the effect of oil price shocks on the variants was estimated by application of VAR. On the basis of the results all these countries except Saudi Arabia has negative reaction to the shocks imposed by oil price. The most reaction by the shocks were due to the variants that it made the most impress on Kuwait and the least effect was related with Saudi Arabia, also the most explanative of oil shocks in growth differential were about Iran, Qatar and Iraq while the least rate returns to Lebanon and Bahrain. The most share belongs to Bahrain by 100% at the beginning of the period that this volume decreases during the period and after that Iran by 91.58 locates in the second rank.
How to cite this article:
Nasser Aghaabbasi. Reviewing the Effects of Oil Shocks on Economic Growth.
DOI: https://doi.org/10.36478/rjasci.2016.992.996
URL: https://www.makhillpublications.co/view-article/1815-932x/rjasci.2016.992.996