A MACRO –ECONOMETRIC STUDY OF OIL ENERGY:OPAEP PANEL’S DATA ANALYSIS

Mostefa Belmokaddem (), Sidi Mohamed Boumediene Khetib () and Mohammed seghir Guellil ()
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Sidi Mohamed Boumediene Khetib: Faculty o f Economics and Commerce, University of Tlemcen, Algeria

Journal of Social and Economic Statistics, 2013, vol. 2, issue 1, 31-50

Abstract: The interest of this paper is to show the relationship GDP - Oil Production, that is to say that the trajectory of GDP is subject to oil production because a shortage in the oil sector will influence all other sectors therefore automatically GDP will decline. We will try to prove this relationship by applying the method of analysis of panel data on the member’s countries of OAPEC. Previously, it was very difficult to make a logical explanation of changes in GDP because economists could not make a correct calculation because they are only interested in oil prices. The reason for using the analysis of panel data is that this method will allow us to proceed with the estimation of an equation valid for all countries by obtaining values of GDP and oil production in order to confirm that it is a relationship between GDP and oil production responding to the hypothesis posed at the beginning.

Keywords: oil economy; OAPEC; macro-econometric modeling; trajectory of GDP; oil production; analysis of panel data; economic growth (search for similar items in EconPapers)
JEL-codes: B22 B23 C13 C22 C33 C51 N55 (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:aes:jsesro:v:2:y:20153:i:1:p:31-50

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