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Article Open Access August 14, 2021

Oil shocks and the Economic Growth: A Study for Oil-importing and Exporting Countries in the Time of Covid-19

Nima Norouzi 1,*
1
Department of energy engineering and physics, Amirkabir university of technology (Tehran polytechnic), 424 Hafez Avenue, PO Box 15875-4413, Tehran
Publihed in: Current Research in Public Health (Volume 1, Issue 1, 2021)
Page(s): 22-48
DOI: 10.31586/ujbm.2021.010103
Received
July 02, 2021
Revised
August 01, 2021
Accepted
August 13, 2021
Published
August 14, 2021
Keywords
Real GDP; Effective exchange rate; Real oil prices; Real wages; Inflation, Covid-19.
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright: Copyright © The Author(s), 2021. Published by Scientific Publications
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Cite This Article

APA Style
Norouzi, N. (2021). Oil shocks and the Economic Growth: A Study for Oil-importing and Exporting Countries in the Time of Covid-19. Current Research in Public Health, 1(1), 22-48. https://doi.org/10.31586/ujbm.2021.010103
ACS Style
Norouzi, N. Oil shocks and the Economic Growth: A Study for Oil-importing and Exporting Countries in the Time of Covid-19. Current Research in Public Health 2021 1(1), 22-48. https://doi.org/10.31586/ujbm.2021.010103
Chicago/Turabian Style
Norouzi, Nima. 2021. "Oil shocks and the Economic Growth: A Study for Oil-importing and Exporting Countries in the Time of Covid-19". Current Research in Public Health 1, no. 1: 22-48. https://doi.org/10.31586/ujbm.2021.010103
AMA Style
Norouzi N. Oil shocks and the Economic Growth: A Study for Oil-importing and Exporting Countries in the Time of Covid-19. Current Research in Public Health. 2021; 1(1):22-48. https://doi.org/10.31586/ujbm.2021.010103 
@Article{crph61,
AUTHOR = {Norouzi, Nima},
TITLE = {Oil shocks and the Economic Growth: A Study for Oil-importing and Exporting Countries in the Time of Covid-19},
JOURNAL = {Current Research in Public Health},
VOLUME = {1},
YEAR = {2021},
NUMBER = {1},
PAGES = {22-48},
URL = {/10.31586/ujbm-1-1-310.31586/ujbm/1/1/3},
ISSN = {2831-5162},
DOI = {10.31586/ujbm.2021.010103},
ABSTRACT = {This article discusses the effect of the oil shock on some OECD oil-importing countries such as Canada, France, Italy, China, and the United States and some OPEC oil-exporting countries such as Algeria, Iran, Kuwait, Saudi Arabia, and Venezuela. The model is estimated for the years 1976-2021. five annual variables are used for each country. The variables within the model include real oil prices, GDP growth, inflation, real wages, and real effective exchange rates. Real GDP is the main variable that shows the effects of oil prices on the economy, and the impact of oil prices on other model variables will indirectly affect economic activities. For this purpose, we estimate the vector autoregression model. Estimates obtained for different countries show that oil price shocks are one of the variables affecting economic growth. Also, in oil-exporting countries, oil shocks on economic growth are positive and negative in oil-importing countries. Also, Covid-19 is studied as an effective parameter in creating oil shocks.},
}
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AB  - This article discusses the effect of the oil shock on some OECD oil-importing countries such as Canada, France, Italy, China, and the United States and some OPEC oil-exporting countries such as Algeria, Iran, Kuwait, Saudi Arabia, and Venezuela. The model is estimated for the years 1976-2021. five annual variables are used for each country. The variables within the model include real oil prices, GDP growth, inflation, real wages, and real effective exchange rates. Real GDP is the main variable that shows the effects of oil prices on the economy, and the impact of oil prices on other model variables will indirectly affect economic activities. For this purpose, we estimate the vector autoregression model. Estimates obtained for different countries show that oil price shocks are one of the variables affecting economic growth. Also, in oil-exporting countries, oil shocks on economic growth are positive and negative in oil-importing countries. Also, Covid-19 is studied as an effective parameter in creating oil shocks.
DO  - Oil shocks and the Economic Growth: A Study for Oil-importing and Exporting Countries in the Time of Covid-19
TI  - 10.31586/ujbm.2021.010103
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