Determinans of economics growth: Panel data analysis of OPEC

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27350%2F22%3A10250779" target="_blank" >RIV/61989100:27350/22:10250779 - isvavai.cz</a>

Výsledek na webu

<a href="https://reader.elsevier.com/reader/sd/pii/S0301420722005724?token=08707842CAEB3083772B3C60E040F0C043084395633D95F11E07A1BBCA3053E4AA0835FB00E7A218443D82A8A11BE651&originRegion=eu-west-1&originCreation=20221208080339" target="_blank" >https://reader.elsevier.com/reader/sd/pii/S0301420722005724?token=08707842CAEB3083772B3C60E040F0C043084395633D95F11E07A1BBCA3053E4AA0835FB00E7A218443D82A8A11BE651&originRegion=eu-west-1&originCreation=20221208080339</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1016/j.resourpol.2022.103129" target="_blank" >10.1016/j.resourpol.2022.103129</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Determinans of economics growth: Panel data analysis of OPEC

Popis výsledku v původním jazyce

The article deals with the study of the determinants of economic growth of the Organization of the Petroleum Exporting Countries (OPEC), which are all developing countries. The issue is examined because the organization affects the price of oil worldwide. Panel data analysis with the random effects model is used. The panel data analysis examines the relationship between GDP and the selected determinants from 1980 to 2019. The analysed data are non-standard. They are affected by volatility, missing values, and credibility. For example, countries such as Venezuela, Iran, or Iraq may provide data which can distort the analysis. The results show a correlation of a total of five variables. The correlation has both positive and negative effects on GDP. Daily oil production, oil exports and oil prices positively affect GDP, contributing to GDP growth. Unemployment and exchange rate have a negative effect. No correlation was found between inflation, population growth, oil demand, and GDP. The analysis can be used as a basis for future decision-making by OPEC Member economies.

Název v anglickém jazyce

Determinans of economics growth: Panel data analysis of OPEC

Popis výsledku anglicky

The article deals with the study of the determinants of economic growth of the Organization of the Petroleum Exporting Countries (OPEC), which are all developing countries. The issue is examined because the organization affects the price of oil worldwide. Panel data analysis with the random effects model is used. The panel data analysis examines the relationship between GDP and the selected determinants from 1980 to 2019. The analysed data are non-standard. They are affected by volatility, missing values, and credibility. For example, countries such as Venezuela, Iran, or Iraq may provide data which can distort the analysis. The results show a correlation of a total of five variables. The correlation has both positive and negative effects on GDP. Daily oil production, oil exports and oil prices positively affect GDP, contributing to GDP growth. Unemployment and exchange rate have a negative effect. No correlation was found between inflation, population growth, oil demand, and GDP. The analysis can be used as a basis for future decision-making by OPEC Member economies.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2022

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Resources Policy

ISSN

0301-4207

e-ISSN

1873-7641

Svazek periodika

79

Číslo periodika v rámci svazku

December

Stát vydavatele periodika

GB - Spojené království Velké Británie a Severního Irska

Počet stran výsledku

8

Strana od-do

1-8

Kód UT WoS článku

000918838800006

EID výsledku v databázi Scopus

2-s2.0-85142174831