Identifying the factors affecting the economic growth of oil-producing countries

Bozkurt Ö. G., Erdem C., Eroʇlu I.

International Journal of Trade and Global Markets, cilt.8, sa.2, ss.97-111, 2015 (Scopus) identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 8 Sayı: 2
  • Basım Tarihi: 2015
  • Doi Numarası: 10.1504/ijtgm.2015.069421
  • Dergi Adı: International Journal of Trade and Global Markets
  • Derginin Tarandığı İndeksler: Scopus
  • Sayfa Sayıları: ss.97-111
  • Anahtar Kelimeler: Corruption, Economic growth, FDI, Foreign direct investments, Oil-producing countries, Panel data, R&D
  • Anadolu Üniversitesi Adresli: Evet

Özet

Copyright © 2015 Inderscience Enterprises Ltd.The objective of this study is to identify the factors that have an impact on the economic growth of oil-producing countries. To meet this objective, annual time series data for 28 countries were included in panel data analyses. According to the findings of the first analysis covering the countries with R&D data (19 countries), economic growth is positively affected by the amount of oil exported, export value index, financial openness index, public expenditures on education, foreign direct investment and expenditures on R&D. The findigs of the second analysis, covering the countries without R&D data (nine countries), show that export value index, corruption perception index, economic freedom index and external debt have a positive effect on economic growth.