scholarly journals Impact of the oil and gas industry on the economy of producing countries

2020 ◽  
Vol 36 (4) ◽  
pp. 693-718
Author(s):  
Irina Filimonova ◽  
◽  
Leonty Eder ◽  
Irina Provornaya ◽  
Daria Cherepanova ◽  
...  
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Panel Data ◽  
Resource Dependence ◽  
Oil And Gas ◽  
Raw Materials ◽  
Panel Data Analysis ◽  
Green Energy ◽  
Sustainable Growth ◽  
Resource Rent

This paper discusses in detail the resource dependency of economies in countries with a high level of hydrocarbon production and income from the export of raw materials; the consequences associated with “resource dependence”; and reasons for their occurrence, as well as possible ways to overcome them. The authors establish the fact that in recent years there has been a “negative” multiplicative effect from the development of Russia’s oil and gas complex. Therefore, the goal is to identify factors of “resource dependence” that contribute to economic growth, to generalize the results of the study at the global level for key oil-exporting countries, and to draw conclusions for the Russian economy. As a methodological basis for the study, a panel data analysis method was chosen, which allows for taking into account the influence of both the dynamics and structure of changes in resource dependence factors in a regional context. The informational basis of the study was made by countries exporting hydrocarbon raw materials and classified by macro-regions, level of economic development, and degree of development of democracy. According to the analysis of panel data, the influence of resource dependence factors is not always of high importance on the economy of oil-exporting countries. The economic growth of many countries is more dependent on factors of sustainable growth that are consistent with the goals of sustainable development. The study allows us to conclude that it is advisable for countries that are currently in a condition of resource dependence to revise their development policies in the direction of differentiating the economy, primarily using the advantages of resource rent for the development of processing and manufacturing industries, as well as for the development of green energy. The results of the study can provide an analytical basis for discussions on the effective development of the oil and gas complex of Russia and the world, taking into account modern challenges and threats to sustainable development.

scholarly journals The Relationship between Competitiveness and Economic Growth: A Panel Data Analysis on Selected Countries

2015 ◽  
Author(s):  
Ziya Çağlar Yurttançıkmaz ◽  
Ömer Selçuk Emsen ◽  
Ahmet Fatih Aydemir ◽  
Ahmet Alkan Çelik
Keyword(s):  
Economic Growth ◽  
Data Analysis ◽  
Panel Data ◽  
Positive Impact ◽  
Panel Data Analysis ◽  
Sustainable Growth ◽  
International Institute ◽  
Data Set ◽  
Business World ◽  
The Impact

As economic growth is very important for the development of individuals and the society, the importance of capital stocks and labor force for the economic growth of countries cannot be neglected. Additionally, the human capital component and especially the role of competitiveness increases on the growth process have been extensively discussed over the last two decades. This paper examines the impact of competitiveness increases on economic growth of selected middle-income countries including Turkey for the period of 1997-2012 using a balanced panel data analysis, which was relatively less studied in the literature. According to analysis results, an increase on the competitiveness index of countries in the panel, which were obtained from the data set of the International Institute for Management Development (IMD), positively increases per capita income level. This result may be interpreted as several factors that increase competitiveness including infrastructure, economic structure, business world and regulations and investments that ensure public efficiency may have a positive impact on economic growth. Therefore, this study suggests that future policies that concentrate on extensive growth instead of intensive dimension may contribute to efficient and sustainable growth.

scholarly journals COMPARATIVE ANALYSIS OF THE INFLUENCE OF OIL AND GAS COMPLEX ON MACROECONOMIC INDEXES OF THE COUNTRIES OF THE WORLD

2019 ◽  
Vol 2 (5) ◽  
pp. 273-279
Author(s):  
Daria Cherepanova ◽  
Svetlana Shumilova
Keyword(s):  
Economic Growth ◽  
Comparative Analysis ◽  
Panel Data ◽  
Resource Dependence ◽  
Oil And Gas ◽  
Resource Curse ◽  
Oil Production ◽  
The World ◽  
Cross Country

Nowadays interest in the problem of the “resource curse” has increased. This article examines the patterns of functioning of the “resource curse” in 41 countries, classified by different groups of income and oil production for the period of 1990-2016, based on the analysis of panel data. The results of cross-country econometric studies of the effects of resource dependence are presented, the consequences in terms of economic growth were analyzed, and the situation taking place in Russia was estimated.

Comparative analysis of the influence of oil and gas complex on economic growth in the macro–regions of the world

2020 ◽  
Author(s):  
Daria M. Cherepanova ◽  
◽  
Irina V. Filimonova ◽  
Keyword(s):  
Economic Growth ◽  
Comparative Analysis ◽  
Resource Dependence ◽  
Oil And Gas ◽  
Sustainable Growth ◽  
High Hydrocarbon ◽  
Hydrocarbon Production ◽  
The World ◽  
Sustainable Economic Growth ◽  
The Impact

The paper discusses the problem of resource dependence in countries with high hydrocarbon production, export of resource. The aim of the study is to assess the impact of resource dependence factors and sustainable growth factors on economic growth of 41 countries, which are net oil and gas exporters, for the period 1990–2018 based on the analysis of panel data. Countries are classified by macro–regions, levels of economic development and democracy. The consequences in terms of sustainable economic growth were analyzed.

scholarly journals Circular Economy Innovation and Environmental Sustainability Impact on Economic Growth: An Integrated Model for Sustainable Development

2020 ◽  
Vol 12 (12) ◽  
pp. 4831 ◽  
Author(s):  
Eglantina Hysa ◽  
Alba Kruja ◽  
Naqeeb Ur Rehman ◽  
Rafael Laurenti
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Panel Data ◽  
Circular Economy ◽  
Panel Data Analysis ◽  
Estimation Method ◽  
Private Investment ◽  
Dynamic Panel Data ◽  
Essential Components ◽  
The Impact

This study examines the link between selected indicators of a circular economy, including essential components of environmental and economic growth. Developed economies are continuously innovating to promote growth and giving governmental support to the producers to move from linear economies to circular ones. Hence, waste materials in industrial systems are recycled or re-used, improving the efficiency of using finite resources with the no-waste approach. The aim of this paper is the following: (1) to identify the main components of a circular economy, which are also supportive of sustainability and development; (2) to check the impact of these variables in the economic growth of European Union countries; (3) to find out if the three components of sustainable development adopted to circular economy (CE) indicators (environmental–social–economic) are significant to economic growth. We used a fixed effect panel data analysis to identify the circular economy’s impact on the economic growth of European countries. Additionally, to support the results of the regression analysis, we employed a second method—generalized methods of moments—computing the Arellano–Bond dynamic panel data estimation method. The model included five independent variables, such as environmental tax rate, a recycling rate of waste, private investment and jobs in a circular economy, patents related to recycling, and trade of recyclable raw materials. The identification of each variable was made based on a deep search through literature. The results of both econometric models showed a strong and positive correlation between a circular economy to economic growth, highlighting the crucial role of sustainability, innovation, and investment in no-waste initiatives to promote wealth.

scholarly journals The Importance of Maritime Transport for Economic Growth in the European Union: A Panel Data Analysis

2021 ◽  
Vol 13 (14) ◽  
pp. 7961
Author(s):  
Alexandra Fratila (Adam) ◽  
Ioana Andrada Gavril (Moldovan) ◽  
Sorin Cristian Nita ◽  
Andrei Hrebenciuc
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Panel Data ◽  
Panel Data Analysis ◽  
Maritime Transport ◽  
The European Union ◽  
Panel Data Regression ◽  
Green Investment ◽  
Port Infrastructure ◽  
The Impact

Maritime transport is one of the main activities of the blue economy, which plays an important role in the EU. In this paper, we aim to assess the impact of maritime transport, related investment, and air pollution on economic growth within 20 countries of the European Union, using eight panel data regression models from 2007 to 2018. Our results confirm that maritime transport, air pollutants (NOx and SO2) from maritime transport, and investment in maritime port infrastructure are indeed positively correlated with economic growth. In other words, an increase of 10% in these factors has generated an associated increase in economic growth rate of around 1.6%, 0.4%, 0.8%, and 0.7% respectively. Alongside the intensity of economic maritime activities, pollution is positively correlated with economic growth, and thus it is recommended that policymakers and other involved stakeholders act to diminish environmental impacts in this sector using green investment in port infrastructure and ecological ships, in accordance with the current European trends and concerns.

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