scholarly journals The Economy between Fluctuations in Oil Revenues and Diversifying Sources of Income in Arab Countries

2021 ◽  
pp. 96-110
Author(s):  
Yun D Starchenko
Keyword(s):  
Gross Domestic Product ◽  
Crude Oil ◽  
Research Problem ◽  
Arab Countries ◽  
Domestic Product ◽  
Economic Sectors ◽  
Macroeconomic Policies ◽  
Economic Trends ◽  
Oil Revenues ◽  
The Impact

The Economic Monitor offers an overview of key economic trends and policies over the preceding six months and discusses conclusions from recent World Bank work on Iraq, putting them in a longer-term and global sense and evaluating the impact of these developments and other policy adjustments Iraq's outlook. The macroeconomy, capital markets, and indices of human health and growth are all included. It is aimed at a broad range of people, like policymakers, industry executives, stock market players, and Iraq's analysts and practitioners. The research problem was represented by the fact that the Iraqi economy is single-source due to its dependence on the crude oil sector, which constitutes more than (60%) of the gross domestic product. Crude oil revenues constitute more than (90%) and neglect other economic sectors such as agriculture, industry, and tourism, whose percentage did not exceed (30%) of the gross domestic product. The weakness of non-oil exports in the foreign trade sector is the failure of macroeconomic policies to diversify the Iraqi economy. The research aims to achieve many goals, the most important of which are: identifying the concept and indicators of diversification. As well as an analysis of the Iraqi economic structure during the period (2008-2019). A forward-looking vision for economic diversification in Iraq.

scholarly journals The external sector shocks and macroeconomics in Nigeria

2021 ◽  
Vol 09 (02) ◽  
Author(s):  
Ohiomoje Iyemifokhae Abubakar ◽  
Keyword(s):  
Gross Domestic Product ◽  
Central Bank ◽  
Crude Oil ◽  
Oil And Gas Industry ◽  
Global Market ◽  
Terms Of Trade ◽  
Domestic Product ◽  
Product Price ◽  
External Sector ◽  
The Impact

The study examines the relationship between some key macroeconomic indicators in Nigeria and the external sector. During the period under review, it was discovered that crude oil had a lion’s share of Nigeria’s export earnings and the international demand for the country’s non-oil exports was unimpressive due to the development of synthetic alternatives, discriminative tariffs and new entrants in the global market (Central Bank of Nigeria, 2008). Consequently, most of the research on this topic hinged their framework on shocks from the oil sector (see Lukman and Olomola, 2016). In contemporary times, however, the contribution of crude oil to Nigeria’s gross domestic product has been dwindling. As at 2019, the entire oil and gas industry contributed less than 10% of Nigeria’s gross domestic product (Central Bank of Nigeria (CBN), 2019). There was the need to examine the external sector from a more comprehensive approach and framework. Therefore, this study evaluated the impact of shocks from Nigeria’s terms of trade and major foreign stock market index on macroeconomics in Nigeria. The methodology adopted for this study is the vector autoregressive technique, impulse response function and the error variance decomposition method. The findings show that the gross domestic product, price level and interest rate respond strongly in the short run (1-2 years), gradually fluctuates in the medium term (3-5 years) and become stable in the long run (6-10 years) due to shocks from the Dow Jones index and Nigeria’s terms of trade. Thus, intervention policies should focus on mitigating the impact of external sector shocks on macroeconomics in the short and medium terms when the impact is enormous.

scholarly journals INFLUENCE OF TOURISM ON GROSS DOMESTIC PRODUCT (ON THE EXAMPLE OF OIL PRODUCING COUNTRIES)

2021 ◽  
Vol 31 (3) ◽  
pp. 371-379
Author(s):  
E.V. Kutyashova ◽  
O.E. Danilin
Keyword(s):  
Economic Development ◽  
Gross Domestic Product ◽  
Raw Materials ◽  
Domestic Product ◽  
Economic Activities ◽  
Economic Sectors ◽  
Average Growth ◽  
Level Of Economic Development ◽  
National Economies ◽  
The Impact

The article is devoted to the peculiarities of the economic development of oil-producing countries, the impact of tourism on the economy of energy exporting countries and the formation of gross domestic product. The high dependence of oil-producing countries on the export of raw materials, fluctuations in the world oil market and awareness of the limited resources require a policy of diversification of national economies. Overcoming the dependence of the economy on a narrow range of economic activities, countries choose rapidly developing economic sectors that provide investment inflows, high export earnings and job creation. One such sector is tourism and travel. Within the framework of the study, countries with a high degree of dependence on energy exports were identified and grouped according to the level of economic development. To identify the role of tourism in the formation of the gross domestic product and the development of oil-producing countries, the average growth rates of the gross domestic product, the contribution of tourism to GDP, and investment in tourism were calculated for the period from 2010 to 2019. The countries that have chosen tourism as the direction of economic diversification are highlighted. An assessment of the impact of tourism on the rates of development of national economies of oil-producing countries is given.

scholarly journals The impact of Covid-19 on Turkey’s non-recoverable economic sectors compensating with falling crude oil prices: A computable general equilibrium analysis

2020 ◽  
Vol 38 (5) ◽  
pp. 1810-1830
Author(s):  
Levent Aydın ◽  
Izzet Ari
Keyword(s):  
Gross Domestic Product ◽  
General Equilibrium ◽  
Crude Oil ◽  
Computable General Equilibrium ◽  
Oil Prices ◽  
Equilibrium Analysis ◽  
Domestic Product ◽  
Human Beings ◽  
Crude Oil Prices ◽  
The Impact

Human beings face unprecedented Covid-19 pandemic outbreak since the beginning of 2020. This disease started to change economic, social, and individual conventional behaviors. Several economic activities have sharply declined, and demand for commodities is decreasing, such as oil. This commodity has also suffered from disagreement among Organization of Petroleum Exporting Countries (OPEC)+ members to deal with the amount of cutting oil production. This situation adds a supply-side problem into declining demand due to Covid-19. Turkey, as an emerging economy, highly depends on imported oil and suffers from this pandemic disease. This study aims to analyze the compensating role of falling oil prices for impacts of Covid-19 on non-recoverable sectors in Turkey, e.g. tourism, travel, and transportation. The main argument in the study, that is falling prices in oil can contribute to compensation for losing revenue from tourism, travel, and transport. Throughout the study, ORANI-G as a multisectoral computable general equilibrium model is employed. Three scenarios, namely Scenario-1, 2A, and 2B, are set to analyze the effects of falling oil prices as compensation for Covid-19 in the selected sectors. Results show that Covid-19 decreases gross domestic product by 1.16 but falling oil prices as 25 and 50% compensate for this decrease by 0.72 and 1.56% gross domestic product increases, respectively. It is concluded that through the falling oil prices, Turkey’s dependence on crude oil imports might provide a new reparation to overcome non-recoverable impacts. This study is scoped with selected sectors and falling oil prices. Other economic and social sectors need to be investigated in terms of challenges of Covid-19 and opportunities for declining crude oil prices. Besides, competitiveness based on the scale of firms and the ability to access business finance should be analyzed within the changing business model in the post-coronavirus period.

scholarly journals Multivariate Time Series Modelling of Nigerian Gross Domestic Product (GDP) and Some Macroeconomic Variables

2021 ◽  
Vol 4 (3) ◽  
pp. 12-31
Author(s):  
Anthony U. ◽  
Emediong U.
Keyword(s):  
Time Series ◽  
Gross Domestic Product ◽  
Crude Oil ◽  
Multivariate Time Series ◽  
Domestic Product ◽  
Economic Sectors ◽  
Vector Autoregressive ◽  
Macroeconomic Variables ◽  
Distributed Lag ◽  
Time Series Modelling

This paper focused on modelling Nigeria’s Gross Domestic Product and some macroeconomic variables, which include, Agriculture, Crude Oil/Mineral Gas and Telecommunication using different classes of multivariate time series models. Multi-Dependent Linear Regression Model (MLRM), Vector Autoregressive Model (VARM) and Multivariate Autoregressive Distributed Lag Models (MARDLM) have been fitted to the multivariate time series. The basic statistics of the estimates and errors reveal the competitiveness of VARM and MARDLM. This was also evidently using the model selection criteria. But the mean square error of forecast places VARM on a higher comparative advantage than MARDLM. The results of the Granger causality tests showed that Crude Oil/Mineral Gas granger causes Gross Domestic Product and also granger causes Agriculture, but not vice versa in each case. This paper establishes the fact that Crude Oil/Mineral Gas is a good predictor of Gross Domestic Product and Agriculture as a major contributor to the nation’s economic development. The need to consistently juxtapose causal relationships between major economic sectors and Gross Domestic Product is vehemently advocated for proper evaluation of sectorial contributions and formulation of economic driven policy in the country.

scholarly journals The Determinants Factors of Balance of Payments: An Investigation from Sudan through the Period 1980-2016

2018 ◽  
pp. 41-46 ◽  
Author(s):  
Faroug Mohammed Khalid Yousif ◽  
Almahdi Musa Attahir Musa
Keyword(s):  
Exchange Rate ◽  
Gross Domestic Product ◽  
Foreign Debt ◽  
Balance Of Payments ◽  
Domestic Product ◽  
Annual Data ◽  
Economic Policies ◽  
Macroeconomic Policies ◽  
Foreign Countries ◽  
The Impact

This paper investigates the determinants of Sudan balance of payments using annual data on Balance Of Payments (BOP), foreign debt (ED), Exchange Rate (EX), inflation (INF), Gross Domestic Product (GDP) during the period (1980 - 2016). The paper elaborates the problem regarding the impact of foreign debt on the balance of payments. The paper built on the fundamental assumption that the foreign debt linked to a positive relationship with the balance of payments by running VECM Approach. Results of the study indicate that there is a direct correlation between the balance of payments and foreign debt, and an inverse relationship between the balance of payments and all of the inflation, gross domestic product and exchange rate during the fore mentioned period. The paper recommends that Sudan should not totally depends on foreign aid in solving its economic problems which entails to transfer big amount of the national product to meet the commitments towards those foreign countries, the need for coordination between macroeconomic policies and domestic economic policies in order to increase output domestic product, economic policies are functioning to reduce the ratio of foreign debt and the reduction of inflation and bring about stability in the exchange rate which leads to improving the balance of payments to be adopted by Sudan.

scholarly journals The Role of the Jordanian Banking Sector in Economic Development

2017 ◽  
Vol 10 (4) ◽  
pp. 139 ◽  
Author(s):  
Abedalfattah Zuhair Al-abedallat
Keyword(s):  
Economic Development ◽  
Gross Domestic Product ◽  
Banking Sector ◽  
Alternative Hypothesis ◽  
Domestic Product ◽  
Economic Sectors ◽  
Banking Services ◽  
Financial Status ◽  
The Impact

The aim of this study is to investigate the impact of the Jordanian banking sector on economic development that was measured by the Gross Domestic Product (GDP). It aims to identify the role of the Jordanian banking sector in the support of economic development through the study of the size of the credit facilities offered by banks.The study relied on descriptive and analytic method, as well as on field study. The population of this study represents the working banks in Jordan, which offers various banking services to the customers. The tool of the study include data of credit facilities, banking deposits for Jordanian banking sector, and gross domestic product that were collected from the annual financial status of Jordanian Central Bank for the period (2000- 2015).The study found that there is a significant statistical impact of the factors (the deposits of the banking sector, Credit facilities) on Gross Domestic Product (GDP). The study rejected the null hypothesis and accepted the alternative hypothesis for the two hypotheses. Also, the study recommended that the Jordanian banking sector should expand in the granting of credit facilities to all economic sectors.

ANALISIS DETERMINAN KUALITAS LINGKUNGAN PERIODE 1999-2013

2016 ◽  
Vol 21 (1) ◽  
pp. 9-20
Author(s):  
Ersalina Tang
Keyword(s):  
Foreign Direct Investment ◽  
Energy Consumption ◽  
Gross Domestic Product ◽  
Co2 Emissions ◽  
Direct Investment ◽  
Meat Consumption ◽  
Domestic Product ◽  
World Data ◽  
The World ◽  
The Impact

The purpose of this study is to analyze the impact of Foreign Direct Investment, Gross Domestic Product, Energy Consumption, Electric Consumption, and Meat Consumption on CO2 emissions of 41 countries in the world using panel data from 1999 to 2013. After analyzing 41 countries in the world data, furthermore 17 countries in Asia was analyzed with the same period. This study utilized quantitative approach with Ordinary Least Square (OLS) regression method. The results of 41 countries in the world data indicates that Foreign Direct Investment, Gross Domestic Product, Energy Consumption, and Meat Consumption significantlyaffect Environmental Qualities which measured by CO2 emissions. Whilst the results of 17 countries in Asia data implies that Foreign Direct Investment, Energy Consumption, and Electric Consumption significantlyaffect Environmental Qualities. However, Gross Domestic Product and Meat Consumption does not affect Environmental Qualities.

scholarly journals The impact of gross domestic product on the financing and investment efficiency of China’s commercial banks

2021 ◽  
Vol 7 (1) ◽  
Author(s):  
Zhen Shi ◽  
Shijiong Qin ◽  
Yung-ho Chiu ◽  
Xiaoying Tan ◽  
Xiaoli Miao
Keyword(s):  
Gross Domestic Product ◽  
Commercial Banks ◽  
Domestic Product ◽  
Investment Efficiency ◽  
Internal Factors ◽  
Slowing Down ◽  
Return On Capital ◽  
Overall Efficiency ◽  
Financing And Investment ◽  
The Impact

AbstractChina’s commercial banks have developed at a very rapid speed in recent decades. However, with global economic development slowing down, the impact of gross domestic product growth as an exogenous factor cannot be ignored. Most existing studies only consider the internal factors of banks, and neglect their external economic factors. This study thus adopts an undesirable dynamic slacks-based measure under an exogenous model in combination with the Kernel density curve to explore the efficiency of state-owned commercial banks (SOCBs), joint-stock commercial banks (JSCBs), and urban commercial banks (UCBs) in China from 2012 to 2018. The results show that SOCBs have the highest overall efficiency, followed by JSCBs, then UCBs. The efficiencies of SOCBs, JSCBs, and UCBs in the financing stage are greater than those in the investment stage, indicating that the latter stage brings down overall efficiency. Thus, all commercial banks need to focus on the efficiency of non-performing loans and return on capital. Finally, SOCBs need to strengthen internal controls, reduce non-performing loans and improve return on capital. JSCBs should actively expand its business while controlling costs, and UCBs should optimize its management.

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