Petroleum production impacts on the economic growth of the OPEC countries: panel ARDL approach

Yuzbashkandi, Saeid Satari; Sadi, Mehrdad Aghaei

doi:10.1007/s42452-020-2490-0

Cited by 7 publications

(4 citation statements)

References 31 publications

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“…According to Phillips and Hansen [103], testing the ARDL results by FMOLS allows one to correct the system for endogeneity and serial correlation effects. It is a non-parametric method to identify a correlation between the components of model error terms [104]. The approach was used by Narayan and Narayan [105], Abu [106], and Adebayo [97] to test the interactions between various macroeconomic variables, including trade volume, inflation, and currency depreciation.…”

Section: Interactionmentioning

confidence: 99%

“…Its estimators obtained from least-squares estimates are unbiased and asymptotically efficient even in the presence of the endogenous problem [111]. Echoing the successful application of both FMOLS and DOLS in testing the robustness of the ARDL results by Yuzbashkandi and Sadi [104], Pasha and Ramzan [112], Priyankara [107], and Adebayo [97] we consider these two methods as efficient estimators to study serial interactions and examine potential correlations between Y and X (1-4) . Some scholars, for instance, Aliyev et al [81], Guan et al [113], Yue et al [114], and Rahman et al [115], further checked FMOLS and DOLS results by employing the canonical cointegration regression (CCR).…”

Section: Interactionmentioning

confidence: 99%

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Impacts of COVID-19 on Trade and Economic Aspects of Food Security: Evidence from 45 Developing Countries

Erokhin

Tianming

2020

IJERPH

246

173

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The stability of food supply chains is crucial to the food security of people around the world. Since the beginning of 2020, this stability has been undergoing one of the most vigorous pressure tests ever due to the COVID-19 outbreak. From a mere health issue, the pandemic has turned into an economic threat to food security globally in the forms of lockdowns, economic decline, food trade restrictions, and rising food inflation. It is safe to assume that the novel health crisis has badly struck the least developed and developing economies, where people are particularly vulnerable to hunger and malnutrition. However, due to the recency of the COVID-19 problem, the impacts of macroeconomic fluctuations on food insecurity have remained scantily explored. In this study, the authors attempted to bridge this gap by revealing interactions between the food security status of people and the dynamics of COVID-19 cases, food trade, food inflation, and currency volatilities. The study was performed in the cases of 45 developing economies distributed to three groups by the level of income. The consecutive application of the autoregressive distributed lag method, Yamamoto’s causality test, and variance decomposition analysis allowed the authors to find the food insecurity effects of COVID-19 to be more perceptible in upper-middle-income economies than in the least developed countries. In the latter, food security risks attributed to the emergence of the health crisis were mainly related to economic access to adequate food supply (food inflation), whereas in higher-income developing economies, availability-sided food security risks (food trade restrictions and currency depreciation) were more prevalent. The approach presented in this paper contributes to the establishment of a methodology framework that may equip decision-makers with up-to-date estimations of health crisis effects on economic parameters of food availability and access to staples in food-insecure communities.

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Section: Interactionmentioning

confidence: 99%

Section: Interactionmentioning

confidence: 99%

Impacts of COVID-19 on Trade and Economic Aspects of Food Security: Evidence from 45 Developing Countries

Erokhin

Tianming

2020

IJERPH

246

173

View full text Add to dashboard Cite

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“…At Stage 3, robustness checks of the short-run and long-run ARDL results are made by implementing a combination of the fully-modified ordinary least squares (FMOLS) and the dynamic ordinary least squares (DOLS) methods, which is an approach previously tested by Yuzbashkandi and Sadi [101], Pasha and Ramzan [102], Erokhin and Gao [62], Adebayo [95], and many other authors. The selection of the FMOLS is explained by the fact that the method allows one to receive consistent parameters even in the small samples in the short-run [62].…”

Section: Methodology Frameworkmentioning

confidence: 99%

Has the COVID-19 Pandemic Affected Maritime Connectivity? An Estimation for China and the Polar Silk Road Countries

et al. 2021

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In light of about 80% of international freight traffic carried by sea, maritime supply chains’ stability is pivotal to global connectivity. For over a year now, the transboundary mobility of vessels and cargoes has been restricted by diverse forms of the COVID-19 containment measures applied by national governments, while the lockdowns of people, businesses, and economic activities have significantly affected the growth prospects of various maritime connectivity initiatives. This study investigates how the pandemic-related public health, trade, and market factors have shifted the connectivity patterns in the Polar Silk Road (PSR) transport corridor between China, South Korea, Japan, Russia, and four economies of Northern Europe. The causality links between the Shipping Connectivity Index (SCI) and the number of COVID-19 cases and deaths, trade volumes with China and the rest of the world, and price indexes of minerals, fuels, food, and agricultural products are revealed separately for eight countries and thirty-five ports. The study algorithm is built on the consecutive application of the Augmented Dickey-Fuller (ADF) and the Phillips-Perron (PP) stationarity tests, the Autoregressive Distributed Lag (ARDL) method, the Fully-Modified Ordinary Least Squares (FMOLS) and the Dynamic Ordinary Least Squares (DOLS) robustness checks, and the Toda-Yamamoto causality test. Tight trade-connectivity links are recorded in all locations along the China-PSR transport corridor in 2015–2019, but in 2020, the relationships weakened. Bidirectional influences between the number of COVID-19 cases and connectivity parameters demonstrate the maritime sector’s sensitivity to safety regulations and bring into focus the role of cargo shipping in the transboundary spread of the virus. The authors’ four-stage approach contributes to the establishment of a methodology framework that may equip stakeholders with insights about potential risks to maritime connectivity in the China-PSR maritime trade in the course of the pandemic.

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“…Also Yuzbashkandi and Sadi (2020) examine the relation between economic growth (GDP) and petroleum production for the Organization of Petroleum Exporting Countries over the period of 2000-2016. The panel co-integration tests were applied to appraise the being of the relationship while the dynamic OLS (DOLS) and fully modified OLS (FMOLS) panel co-integration methods were applied to explore the long-run effect of petroleum production on the GDP growth.…”

Section: Littérature Reviewmentioning

confidence: 99%

The Relation Between Economic Growth and Oil Production in the Gulf Cooperation Countries: Panel Ardl Approach

Hafsi¹,

Dadene²,

Guennoun³

2021

IJEEP

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This study investigated the impact of oil Petroleum production on economic growth in the Gulf Cooperation Council countries using panel autoregressive distributed lag model covering the period from 1960 to 2018. The results indicated that oil Petroleum production have significant positive impact on economic growth in both the long-run and the short-run period, also results show that variables are Co integrated by using the pool mean group (PMG) method. Panel Causality Test indicates that there is a causal relationship between Oil production and economic growth. There exists unidirectional causality running from economic growth (GDP) to petroleum production (PP).

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Petroleum production impacts on the economic growth of the OPEC countries: panel ARDL approach

Cited by 7 publications

References 31 publications

Impacts of COVID-19 on Trade and Economic Aspects of Food Security: Evidence from 45 Developing Countries

Impacts of COVID-19 on Trade and Economic Aspects of Food Security: Evidence from 45 Developing Countries

Has the COVID-19 Pandemic Affected Maritime Connectivity? An Estimation for China and the Polar Silk Road Countries

The Relation Between Economic Growth and Oil Production in the Gulf Cooperation Countries: Panel Ardl Approach

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