This study examines the consequences of oil price volatility on the growth of the Nigerian economy within the period 1970 to 2010. Using quaterly data and employing the VAR methodology, the study finds that of the six variables employed, oil price volatility impacted directly on real government...

In this study, the analysis was that the capacity of creating inflation depends on oil prices as the one of energy types that is a major input of aggregate output which becomes a source of economic growth with increasing in costs. The aggregate output is also a function of energy that is the one...

The recent plunge in oil prices has brought into question the generally accepted view that lower oil prices are good for the US and the global economy. In this paper, using a quarterly multi-country econometric model, we first show that a fall in oil prices tends relatively quickly to lower...