RELATIONSHIP BETWEEN THE OIL PRICE AND ECONOMIC GROWTH THE CASE OF EMERGING COUNTRIES

Abstract

This paper studies oil price impact on economic growth. For this reason, we shall use two samples namely, oil-exporting and importing countries. The impact of oil prices on growth would be modeled by a non-linear model and we shall approximate the economic growth from GDP and we would refer to the four explanatory variables: the energy consumption (EC), the rate of inflation (CPI), the stock of capital (SC), the balance of energy (BE). We shall estimate the developed model by static technique Panel then we discuss the existence of a linear dynamic after testing the presence or absence of homogeneous and heterogeneous unit roots on Panel Data