The goal of this paper is to examine the relationship between real GDP and oil prices using time series data for the period 1970-2005. Our main finding is that an increase in oil has a positive, albeit inelastic, impact on real GDP, inconsistent with the bulk of the literature. We argue that...

The paper verifies the impact of oil price on gross domestic growth in Nigeria from 1960 to 2016 and cointegration test shows that there is one cointegration between the variables considered and the VECM result shows that the speed of adjustment to attain long-run equilibrium will be very fast...

This chapter examines major highlights on macroeconomic and fiscal issues affecting the Kuwaiti economy based on different oil price assumptions. Forecast, analysis and simulations are performed using the Kuwait SCPD macro model. For the Kuwait economy, the author has explored three scenarios...