In line with the neoclassical growth model a persistent stream of oil revenues might have a long lasting impact on GDP per capita in oil exporting countries through higher investment activities. This relationship is explored for Iran and the countries of the Gulf Cooperation Council (GCC) using...

In line with the neoclassical growth model a persistent stream of oil revenues might have a long lasting impact on GDP per capita in oil exporting countries through higher investment activities. This relationship is explored for Iran and the countries of the Gulf Cooperation Council (GCC) using...

In line with the neoclassical growth model a persistent stream of oil revenues might have a long lasting impact on GDP per capita in oil exporting countries through higher investment activities. This relationship is explored for Iran and the countries of the Gulf Cooperation Council (GCC) using...

This paper is a contribution to the on-going debate over whether there is a relationship between energy consumption and economic growth. Although the oil exporting countries are among the most energy-intensive economies in the world, little attention has been paid to the features of their energy...

This study uses panel cointegration techniques to examine the impact of energy consumption, and trade on economic growth for five North Africa countries within a multivariate framework over the period 1980-2009. Short-run dynamic relationship shows that there is evidence of one way short-run...

This paper applies likelihood-based panel cointegration techniques to examine the existence of a long run relationship between GDP, tourism earnings per tourist and total trade volume for a panel of European countries over the period 1988–2010. Removing the cross dependency, our panel...

The tourism and economic growth relationship is investigated for a panel of European countries over the period 1988–2010. The results reveal that the variables contain a panel unit root and they cointegrate in a panel perspective. The findings show that tourism enhance economic growth for some...

The recent relatively high levels of global oil prices have led to a significant improvement in the public finances of several hydrocarbon-exporting countries. However, despite the increase in fiscal buffers, medium-term risks remain high. Fiscal vulnerabilities have increased as a consequence...

This Selected Issues paper on Algeria reports that the authorities have relied on an expansionary fiscal stance to stimulate growth and employment, but structural reforms have virtually stalled. Although the economy has recorded increasing growth, the nonhydrocarbon sector remains small and...

The continued rise in oil prices since 2002 has resulted in a significant increase in export revenue for oil exporting countries. This increase in the price of oil and other commodities means that OPEC countries and Russia have received, between 2003 and 2006, a windfall of 1.3 trillion dollars...