World oil prices and O.E.C.D. trade balance

Dominick Salvatore and Greg Winczewski

Open Economies Review, 1990, vol. 1, issue 1, 89-106

Abstract: This paper develops a theoretical model which postulates that while the drop in oil prices during the 1980s has benefitted O.E.C.D. countries in a way not unlike a favorable productivity shock, the concomitant shift in oil market share from Arab or cartel core petroleum exporting countries to non-Arab or non-cartel core petroleum exporting countries, has provided less benefits to the O.E.C.D. countries than has hitherto been acknowledged. The econometric analysis lends support to the model. Copyright Kluwer Academic Publishers 1990

Date: 1990
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DOI: 10.1007/BF01886177

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