Relationship Between Economic Growth and Oil Production in Emerging Countries for the Period 2020–2050

Leovardo Mata Mata and Jaime Humberto Beltran Godoy ()
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Leovardo Mata Mata: Universidad Anahuac
Jaime Humberto Beltran Godoy: Universidad Anahuac

A chapter in Data Analytics Applications in Emerging Markets, 2022, pp 131-144 from Springer

Abstract: Abstract An algorithm of dynamic programming in Montecarlo simulation is developed to analyze the international oil market towards the year 2050. The leading oil exporters are considered, and it is found that the positive relationship between economic growth and oil production will go decreasing. The model suggests that the combination of renewable energies, oil, natural gas, and others will be the variable that will influence economic growth, where oil will no longer be the main actor.

Keywords: Oil demand; Economic growth; Bellman’s equation; Renewable energy; MonteCarlo (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-19-4695-0_7

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DOI: 10.1007/978-981-19-4695-0_7

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