The Oil Price and Trade Nexus in the Gulf Co-Operation Council Countries

Alkhateeb, Tarek Tawfik Yousef; Mahmood, Haider

doi:10.3390/resources9120139

Cited by 3 publications

(1 citation statement)

References 55 publications

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“…Moreover, Mahmood et al [63] corroborated the positive and asymmetrical impact of urbanization and industrialization on CO 2 emission in Saudi Arabia. Furthermore, oil price, stock market, and trade nexus have been investigated in the GCC context [64,65]. However, the existing GCC literature did not work on the macroeconomic policy and emissions relationship.…”

Section: Literature Reviewmentioning

confidence: 99%

The Fiscal and Monetary Policies and Environment in GCC Countries: Analysis of Territory and Consumption-Based CO2 Emissions

et al. 2022

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Expansionary monetary and fiscal policies are necessary for economic and environmental development. The present research studies the impact of monetary policy and fiscal policy on Territory-Based CO2 (TBC) and Consumption-Based CO2 (CBC) emissions in Gulf Cooperation Council (GCC) economies from 1990–2019. The cointegration is corroborated through various tests, and long-term relationships are found in both TBC and CBC models. Government expenditures have long-term positive effects on both TBC and CBC emissions and short-term positive effects on TBC emissions in the region. Money supply negatively affects the TBC and CBC emissions in the long run and positively affects TBC and CBC emissions in the short run. Hence, monetary policy needs a long time to have positive ecological effects in the GCC region. Moreover, fiscal policy in both the long and short run and monetary policy in the short run have scale effects in GCC economies. Therefore, we recommend reducing fiscal measures and encouraging monetary policy in the long run to have positive environmental outcomes in the region.

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Section: Literature Reviewmentioning

confidence: 99%

The Fiscal and Monetary Policies and Environment in GCC Countries: Analysis of Territory and Consumption-Based CO2 Emissions

et al. 2022

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Investigating symmetrical influence of economic expansion, oil price, and industrial production on trade deficit: a policy pathway toward three neighboring Asian states

Arif,

Malik,

Hameed

et al. 2023

Environ Sci Pollut Res

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EMPIRICAL ANALYSIS of the RELATIONSHIP BETWEEN OIL PRICE and TRADE BALANCE

Kahiloğulları

2024

Beykoz Akademi Dergisi

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The impact of the oil shocks in the 1970s and the acceleration of globalization since the 1980s have led to the emergence of a vast literature investigating the relationship between the growth in world trade volume and various macroeconomic variables related to oil prices. Due to its significance as a commodity in economic activities, oil prices have remained a closely monitored indicator to this day. The aim of this study is to analyze the relationship between oil prices and trade balance. The study is conducted for a panel consisting of 8 countries (Bangladesh, Brazil, Colombia, India, Mauritius, Pakistan, Turkey, and South Africa) covering the period from 2006 to 2021. The relationships between variables are analyzed using the Fixed Effects Model and the Driscoll-Kraay estimator. The results of the study indicate the presence of weak relationships between oil prices and trade balance in terms of the Fixed Effects Model, while strong relationships are observed when analyzed with the Driscoll-Kraay Estimator. The study also demonstrates strong relationships between GDP, exchange rates, and trade balance in both prediction models.

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The Oil Price and Trade Nexus in the Gulf Co-Operation Council Countries

Cited by 3 publications

References 55 publications

The Fiscal and Monetary Policies and Environment in GCC Countries: Analysis of Territory and Consumption-Based CO2 Emissions

The Fiscal and Monetary Policies and Environment in GCC Countries: Analysis of Territory and Consumption-Based CO2 Emissions

Investigating symmetrical influence of economic expansion, oil price, and industrial production on trade deficit: a policy pathway toward three neighboring Asian states

EMPIRICAL ANALYSIS of the RELATIONSHIP BETWEEN OIL PRICE and TRADE BALANCE

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