This paper examines the effects of oil price shocks on industrial production in three oil-exporting countries, namely Iran, Saudi Arabia and Indonesia using annual data for the period 1970-2005. First, the Gregory and Hansen cointegration technique, allowing for the presence of potential...

While there is much evidence to support the resource curse hypothesis for resource-abundant countries, some studies have found that oil booms raise the economic growth of oil-exporting countries. This paper examines the issue of the existence of the threshold effects in the relationship between...

Increasing happiness of population as the ultimate goal has engaged economist’s interest in identifying, measuring and theorizing based on the amount of influence of effective components on happiness. What makes this paper remarkable in contrast to similar studies is its Islamic ideological...

In this paper, we study the non-linear relationship between oil revenues and real output growth of the Iranian economy during 1959-2007 using a threshold error correction model. The estimation results show that the response of economic growth to oil revenue growth in low regimes of oil revenues...

This paper uses recently developed econometric techniques such as panel unit roots tests, panel cointegration, and panel generalized method of moment (GMM) to investigate the existence and the nature of the dynamic causal relationships among GDP, exports, and Foreign Direct Investment (FDI)...

This paper examines the nonlinear or asymmetric relationship between oil revenues and output growth in oil-exporting countries, applying a dynamic panel framework and two different measures of oil shocks. The main results in this paper confirm the stylized facts that in heavily oil-dependent...