Esfahani, H. S.; Mohaddes, K.; Pesaran, M. H. - Faculty of Economics, University of Cambridge - 2012
This paper develops a long-run growth model for a major oil exporting economy and derives conditions under which oil … regularity conditions and assuming a Cobb-Douglas production function, it is shown that (log) oil exports enter the long …/image3.png" width="11" height="13" />). The long-run theory is tested using quarterly data on nine major oil economies, six …