Suchergebnisse

The growth in non-oil merchandise the world over is stimulated by individual governments monetary and fiscal policies. Finances are provided export-producing firms to improve and modernize capacity to make Nigerias non-oil export commodities competitive in the export market. Data obtained on Nigerias export finances provided non-oil export commodity producers and their export volumes were analysed to determine the growth in those variables on consecutive years basis. Resultant values were further analysed using the kendalls tau-b correlation coefficient to determine if changes in non-oil export financing affect changes in non-oil export volume commensurately. Correlation value of 0.025 show positive insignificant relationship between changes in both variables necessitating an inquiry into non-oil export financings by the monetary authorities to ensure that purported non-oil financings are actually provided for this purpose with an inquiry into the operations of the receiving non-oil export producing firms; and the reappraisal of the operational, fiscal and operational government policies inhibiting production for export.

. At the end of February – March 2022 another redistribution of the global energy market began, caused by the expansion and deepening of sanctions against Russia. In this situation India has significantly increased its purchases of Russian oil. India took this step on the basis of its economic considerations, despite the displeasure of the United States. Russian oil of the Urals brand is sold at a significant discount, which makes imports profitable for the Indian side, even taking into account transportation costs. There is a large reserve for further increases in supplies, but the Indian authorities have not yet made any statements in this regard.

This paper develops a long run growth model for a major oil exporting economy and derives conditions under which oil revenues are likely to have a lasting impact. This approach contrasts with the standard literature on the "Dutch disease" and the "resource curse", which primarily focus on short run implications of a temporary resource discovery. Under certain regularity conditions and assuming a Cobb Douglas production function, it is shown that (log) oil exports enter the long run output equation with a coefficient equal to the share of capital. The long run theory is tested using a new quarterly data set on the Iranian economy over the period 1979Q1-2006Q4. Building an error correction specification in real output, real money balances, inflation, real exchange rate, oil exports, and foreign real output, the paper finds clear evidence for two long run relations: an output equation as predicted by the theory and a standard real money demand equation with inflation acting as a proxy for the (missing) market interest rate. Real output in the long run is shaped by oil exports through their impact on capital accumulation, and the foreign output as the main channel of technological transfer. The results also show a significant negative long run association between inflation and real GDP, which is suggestive of economic inefficiencies. Once the effects of oil exports are taken into account, the estimates support output growth convergence between Iran and the rest of the world. We also find that the Iranian economy adjusts quite quickly to the shocks in foreign output and oil exports, which could be partly due to the relatively underdeveloped nature of Iran's financial markets.

Purpose
The purpose of this paper is to examine the dynamic relationship between oil exports, non-oil exports, imports and economic growth in the Organization of Petroleum Exporting Countries (OPEC), covering the period 1972-2013 by using panel data analysis.


Design/methodology/approach
The results from the dynamic panel data methods are as follows: there exists the cross-sectional dependence on each variable. According to the cross-sectionally augmented panel unit root tests, all variables are stationary at the first difference. Westerlund and Edgerton (2007) LM Bootstrap cointegration test shows that there is a long-term relationship between variables.


Findings
The results obtained by the Common Correlated Effects (CCE) estimator indicate that the increase in oil exports has a positive impact on the GDP of all countries, while the increase in oil exports has a negative impact on the non-oil exports of some countries.


Originality/value
In this study, the relationship between oil exports, economic growth, imports and non-oil exports of the 12 OPEC member countries is tested by considering the cross-sectional dependence between 1972 and 2013. In the study, the authors found a positive relationship as a result of researching the impact of oil exports on economic growth in the frame of CCE panel estimations results.

This monograph explores the impact that oil revenue had on the national defense spending of five oil-exporting countries. Despite periods of falling oil revenues, these countries typically did not lower defense spending. In some cases, defense spending increased sharply, or the rate of decrease was much lower than the drop in oil revenues. This condition creates challenges for national security professionals. If nations face falling oil revenues and still have the will and ability to expand their military or security capabilities, then they might do so through the sacrifice of domestic spending or regional stability. Economic sanctions, worldwide recession, or falling oil demand may not stop these oil-exporting nations from purchasing weapons and creating large security forces. Policies that attempt to limit oil revenues of potential enemies alone may not be sufficient to inhibit them from creating regional instability through expansion of their defense capabilities. Hopes for reduced defense expenditures, by countries like Iran, as a result of a drop in energy demand seem to be diminished by these findings. A more complex picture emerges that forces analysts and policymakers to search more broadly for options to stem potential arms races that may be fueled by the riches of oil-exporting countries. ; https://press.armywarcollege.edu/monographs/1606/thumbnail.jpg