scholarly journals Oil and Mortality

2021 ◽  
Author(s):  
Bahram Sanginabadi
Keyword(s):  
North Africa ◽  
Positive Impact ◽  
Oil Price ◽  
Main Question ◽  
Publicly Funded ◽  
Difference In Differences ◽  
Oil Price Shock ◽  
Price Shock ◽  
The Difference ◽  
Oil Revenues

This paper investigates the impacts of a large and exogenous oil price shock in December 1973 on mortality rates of the major oil producer nations of the Middle East and North Africa. We use longitudinal data from 1960 to 2014 and we apply the difference-in-differences approach to investigate the main question of the research. Our findings show that the oil price shock did not lead to higher GDP per capita, but it did lead to lower mortality. These findings are puzzling. A possible explanation is that the oil price shock allowed for higher spending on publicly funded health care. We find a positive impact of the oil price increase on the number of hospital beds which perhaps suggests that higher oil revenues increased spending on public health and that possibly decreased mortality.

scholarly journals Oil and Mortality

2021 ◽  
Vol 4 (1) ◽  
Author(s):  
Bahram Sanginabadi ◽  
Keyword(s):  
North Africa ◽  
Positive Impact ◽  
Oil Price ◽  
Main Question ◽  
Publicly Funded ◽  
Difference In Differences ◽  
Oil Price Shock ◽  
Price Shock ◽  
The Difference ◽  
Oil Revenues

This paper investigates the impacts of a large and exogenous oil price shock in December 1973 on mortality rates of the major oil producer nations of the Middle East and North Africa. We use longitudinal data from 1960 to 2014 and we apply the difference-in-differences approach to investigate the main question of the research. Our findings show that the oil price shock did not lead to higher GDP per capita, but it did lead to lower mortality. These findings are puzzling. A possible explanation is that the oil price shock allowed for higher spending on publicly funded health care. We find a positive impact of the oil price increase on the number of hospital beds which perhaps suggests that higher oil revenues increased spending on public health and that possibly decreased mortality.

scholarly journals LONG RUN RELATIONSHIP BETWEEN OIL PRICE SHOCKS, EXCHANGE RATE VOLATILITY AND ECONOMIC GROWTH IN NIGERIA

2021 ◽  
Vol 4 (2) ◽  
pp. 27-51
Author(s):  
Abubakar Mikailu Aminu ◽  
◽  
Alexander Abraham Anfofum ◽  
Zakaree Saheed ◽  
◽  
...  
Keyword(s):  
Economic Growth ◽  
Exchange Rate ◽  
Positive Impact ◽  
Exchange Rate Volatility ◽  
Oil Price ◽  
Causality Test ◽  
Long Run ◽  
Oil Price Shock ◽  
Price Shock ◽  
Short Run

The paper examined the long run relationship between oil price shock, exchange rate volatility and economic growth in Nigeria over the period 1980-2019. The study employed the Johansen Vector Autoregression (VAR)-based cointegration technique model to examine the sensitivity of real economic growth to changes in oil prices and real exchange rate volatility in the long-run while the short run dynamics was checked using a vector error correction model. The result from the Granger causality test suggests that there is causality between oil price, exchange rate and GDP. The results from Johansen cointegration test indicate there exist a long-run equilibrium relationship among the variables. Findings further show that oil price shock and appreciation in the level of exchange rate exert positive impact on real economic growth in Nigeria. The paper therefore recommends greater diversification of the economy through investment in key productive sectors of the economy using income from the crude oil export to guard against the vicissitude of oil price shock and exchange rate volatility.

scholarly journals Chad

2019 ◽  
Vol 19 (258) ◽  
Author(s):  
Keyword(s):  
Low Income ◽  
Social Situation ◽  
Oil Price ◽  
Significant Progress ◽  
Debt Sustainability ◽  
Oil Price Shock ◽  
Price Shock ◽  
Oil Revenues

Chad is a low-income fragile country that depends heavily on oil revenues. In recent years, it has been heavily impacted by an oil price shock and security tensions which intensified recently with a rise in terrorists attacks and rebel movements. Significant progress has been made under the 2017 ECF arrangement to help restore debt sustainability and fiscal stability. However, the economic, financial, and social situation is still very difficult, and the recovery in the non-oil economy has not taken strong hold yet as the economy continues to deal with legacies from the crisis and long-standing structural weaknesses.

Evaluation of the impact of public investment programs on social and economic performance of territories

2019 ◽  
pp. 109-123
Author(s):  
I. E. Limonov ◽  
M. V. Nesena
Keyword(s):  
Bayesian Modeling ◽  
Positive Impact ◽  
Public Investment ◽  
Difference In Differences ◽  
The Public ◽  
Export Activity ◽  
Regional Investment ◽  
The Difference ◽  
The Impact ◽  
Development Institution

The purpose of this study is to evaluate the impact of public investment programs on the socio-economic development of territories. As a case, the federal target programs for the development of regions and investment programs of the financial development institution — Vnesheconombank, designed to solve the problems of regional development are considered. The impact of the public interventions were evaluated by the “difference in differences” method using Bayesian modeling. The results of the evaluation suggest the positive impact of federal target programs on the total factor productivity of regions and on innovation; and that regional investment programs of Vnesheconombank are improving the export activity. All of the investments considered are likely to have contributed to the reduction of unemployment, but their implementation has been accompanied by an increase in social inequality.

scholarly journals Monetary Transmission Channel, Oil Price Shock and the Manufacturing Sector in Nigeria

2019 ◽  
Vol 19 (1) ◽  
pp. 89-113
Author(s):  
Adeleke Omolade ◽  
Philip Nwosa ◽  
Harold Ngalawa
Keyword(s):  
Monetary Policy ◽  
Exchange Rate ◽  
Inflation Rate ◽  
Manufacturing Sector ◽  
Output Growth ◽  
Oil Price ◽  
Monetary Transmission ◽  
Oil Price Shock ◽  
Price Shock ◽  
The Exchange Rate

Abstract Research background: The need for diversification of the Nigerian economy has been emphasized and the manufacturing sector has a major role in this. Being an oil producing country, monetary policy is an important macroeconomic policy that has always been used to manage the influence of oil price shock on the manufacturing sector. Purpose: The study examines the relationship between oil price shock, the monetary transmission mechanism and manufacturing output growth in Nigeria. Research methodology: The study applied the structural vector auto regression (SVAR) modelling technique and a descriptive analysis. Results: The results of the study show that the exchange rate is mostly affected by the oil price shock, while the monetary policy instruments and inflation rate are also very responsive to the exchange rate shock. The manufacturing sector output growth has also been shown to be strongly affected by the inflation rate and monetary policy shocks. Novelty: The study has revealed the most effective channel via which oil price shocks affect manufacturing output. The exchange rate channel of the monetary policy transmission mechanism is the most significant channel through which oil price shock affects manufacturing output growth in Nigeria. This shows that effective management of the exchange rate policy via the appropriate monetary policy approach can be used to minimize the adverse effect of oil price shocks on Nigerian manufacturing output.

South Sudan may struggle to attract oil investment

2021 ◽  
Keyword(s):  
Foreign Direct Investment ◽  
Foreign Exchange ◽  
Direct Investment ◽  
Oil Price ◽  
Fiscal Year ◽  
Government Revenue ◽  
Content Type ◽  
Oil Price Shock ◽  
Price Shock ◽  
Almost All

Significance Crude oil is central to South Sudan’s economy, providing between 80% and 90% of government revenue and almost all export earnings. Last year’s oil price shock hit the economy hard and prompted two disbursements by the IMF under the Rapid Credit Facility (RCF) in November 2020 and April 2021. Impacts Net foreign direct investment (FDI) will turn positive in fiscal year (FY) 2020/21, following three years of outflows. The central bank’s weekly foreign exchange auctions will continue to reduce the gap between the official and parallel market rates. Following a contraction of around 4%, GDP is expected to grow modestly at 2-3% in FY 2021/22 and FY 2022/23.

The macroeconomic effects of increase and decrease in oil prices: evidences of asymmetric effects from India

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Anver Chittangadan Sadath ◽  
Rajesh Herolli Acharya
Keyword(s):  
Negative Impact ◽  
Wholesale Price ◽  
Oil Prices ◽  
Petroleum Products ◽  
Oil Price ◽  
Content Type ◽  
Macroeconomic Variables ◽  
Real Gdp ◽  
Oil Price Shock ◽  
Price Shock

Purpose The purpose of this paper is to assess whether oil price shocks emanating from oil price increase and decrease have a different impact on the macroeconomic activity. Design/methodology/approach This study conducts the empirical analysis using structural vector auto-regressive model on Indian data for the period from 1996 to 2017. This paper uses four key macroeconomic variables, namely, real gross domestic product (GDP), the real rate of interest, real money supply, wholesale price index inflation and various linear and non-linear measures of oil price shock. Findings Empirical results confirm that oil price shock has a significant impact on various macroeconomic variables used in the study. Specifically, shocks emanating from a decline in oil price have a stronger positive impact on real GDP, whereas, a shock due to the rise in oil price has a weaker negative impact on real GDP. Impulse responses confirm that shocks due to a decline in oil prices are long-lasting compared to similar shocks due to a rise in oil prices. Therefore, this study concludes that the macroeconomic impact of oil price shock is asymmetric in India. Originality/value This paper adds the following new insights: First, this paper presents a distinct relationship between the growth rate of oil price and GDP during increasing and decreasing phases of oil price to drive home the case for this study. Second, India has adopted crucial administrative initiatives such as deregulation of the market for petroleum products and the promotion of renewable energy during the study period. Finally, previous studies have revealed specific behavioral and economic features of people in India with respect to the demand for petroleum products. In light of these factors, this paper based on Indian experience would be justified.

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