Oil price shocks and economic growth in oil-exporting countries : does the size of government matter? / by Amir Sadeghi.

Format:

Book

Author/Creator:

Sadeghi, Amir, author.

Series:

IMF working paper ; WP/17/287.

IMF working paper ; WP/17/287

Language:

English

Subjects (All):

Petroleum products--Prices.

Petroleum products.

Expenditures, Public.

Physical Description:

1 online resource (28 pages)

Edition:

1st ed.

Place of Publication:

Washington D.C. : International Monetary Fund, 2017.

Summary:

This work by Amir Sadeghi, published as an IMF Working Paper, investigates the relationship between oil price shocks and economic growth in oil-exporting countries, focusing on the impact of government size. The study covers 28 countries from 1990 to 2016, analyzing how larger government expenditure relative to non-oil GDP influences non-oil output growth and volatility. The paper reveals that positive oil price shocks lead to significant increases in government spending, particularly in countries with larger governments. It provides empirical evidence that fiscal policy is a key mechanism through which oil price fluctuations affect macroeconomic stability in these nations. The research suggests that fiscal consolidation can help reduce economic vulnerability to such exogenous shocks, promoting a more stable and diversified economy. The intended audience includes economists, policymakers, and researchers interested in fiscal policy and economic stability in oil-dependent economies. Generated by AI.

Contents:

Cover

CONTENT

I. Introduction

II. The empirical model

III. Estimation

IV. Results

V. Conclusion

FIGURES

1. Oil Price Developments and Non-Oil Growth in the Sample Oil-Exporting Countries, 1990-2016

2. Oil Price Developments and Non-Oil Growth in the Sample Oil-Exporting Countries, Small vs. Large Governments

3. Impulse Response of Government Spending and Non-Oil Output to a Unit Oil Price Shock

4. Cumulative Impulse Response of Government Spending and Non-Oil Output to a Unit Oil Price Shock

TABLES

1. Cut Points for each Type of Government Expenditure

2. The Difference in Cumulative Impulse Response to a Unit Oil Price Shock,

3. Non-Oil Output Variance Decomposition Attributable to Disturbances in Oil Price (%)

APPENDICES

I: Data

II: Impulse Responses

References.

Notes:

Description based on publisher supplied metadata and other sources.

Part of the metadata in this record was created by AI, based on the text of the resource.

Description based on print version record.

Includes bibliographical references.

ISBN:

9781484336298

1484336291

OCLC:

1020029173