Year 2020, Volume 2 , Issue 1, Pages 59 - 81 2020-03-30

THE IMPACT OF OIL PRICE SHOCKS ON THE ECONOMIC GROWTH OF LIBYA: AN ARDL-BOUND TESTING APPROACH

Nagmi AİMER [1]


This paper examines how oil price shocks affect the Libyan economic growth over the period from 1990 to 2016. Using the autoregressive distributed lag (ARDL) bounds test, the study finds that oil price changes affect the Libyan economic growth. Oil prices are important in explaining GDP movements. Moreover, this test suggests that oil price has a long-term positive impact on economic growth. Our empirical results indicate a two-way causal relationship between oil prices and GDP, while a one-way causal relationship arises from imports and trade openness to oil prices. However, oil price shocks do not appear to have a statistically significant effect on the trade balance. The result shows that the country should formulate appropriate energy conservation policies taking into cognizance of her peculiar condition.

Oil prices shocks, Economic growth, Libyan economy
  • Serkan DİLEKserkan.dilek@gmail.com
Primary Language en
Subjects Management
Published Date Spring
Journal Section Articles
Authors

Orcid: 0000-0003-1739-2509
Author: Nagmi AİMER
Country: Turkey


Dates

Publication Date : March 30, 2020

Bibtex @other { jeess579092, journal = {Journal of Empirical Economics and Social Sciences}, issn = {2667-7210}, address = {}, publisher = {Burak DARICI}, year = {2020}, volume = {2}, pages = {59 - 81}, doi = {}, title = {THE IMPACT OF OIL PRICE SHOCKS ON THE ECONOMIC GROWTH OF LIBYA: AN ARDL-BOUND TESTING APPROACH}, key = {cite}, author = {Ai̇mer, Nagmi} }
APA Ai̇mer, N . (2020). THE IMPACT OF OIL PRICE SHOCKS ON THE ECONOMIC GROWTH OF LIBYA: AN ARDL-BOUND TESTING APPROACH . Journal of Empirical Economics and Social Sciences , 2 (1) , 59-81 . Retrieved from https://dergipark.org.tr/en/pub/jeess/issue/53653/579092
MLA Ai̇mer, N . "THE IMPACT OF OIL PRICE SHOCKS ON THE ECONOMIC GROWTH OF LIBYA: AN ARDL-BOUND TESTING APPROACH" . Journal of Empirical Economics and Social Sciences 2 (2020 ): 59-81 <https://dergipark.org.tr/en/pub/jeess/issue/53653/579092>
Chicago Ai̇mer, N . "THE IMPACT OF OIL PRICE SHOCKS ON THE ECONOMIC GROWTH OF LIBYA: AN ARDL-BOUND TESTING APPROACH". Journal of Empirical Economics and Social Sciences 2 (2020 ): 59-81
RIS TY - JOUR T1 - THE IMPACT OF OIL PRICE SHOCKS ON THE ECONOMIC GROWTH OF LIBYA: AN ARDL-BOUND TESTING APPROACH AU - Nagmi Ai̇mer Y1 - 2020 PY - 2020 N1 - DO - T2 - Journal of Empirical Economics and Social Sciences JF - Journal JO - JOR SP - 59 EP - 81 VL - 2 IS - 1 SN - 2667-7210- M3 - UR - Y2 - 2020 ER -
EndNote %0 Uygulamalı Ekonomi ve Sosyal Bilimler Dergisi THE IMPACT OF OIL PRICE SHOCKS ON THE ECONOMIC GROWTH OF LIBYA: AN ARDL-BOUND TESTING APPROACH %A Nagmi Ai̇mer %T THE IMPACT OF OIL PRICE SHOCKS ON THE ECONOMIC GROWTH OF LIBYA: AN ARDL-BOUND TESTING APPROACH %D 2020 %J Journal of Empirical Economics and Social Sciences %P 2667-7210- %V 2 %N 1 %R %U
ISNAD Ai̇mer, Nagmi . "THE IMPACT OF OIL PRICE SHOCKS ON THE ECONOMIC GROWTH OF LIBYA: AN ARDL-BOUND TESTING APPROACH". Journal of Empirical Economics and Social Sciences 2 / 1 (March 2020): 59-81 .
AMA Ai̇mer N . THE IMPACT OF OIL PRICE SHOCKS ON THE ECONOMIC GROWTH OF LIBYA: AN ARDL-BOUND TESTING APPROACH. Journal of Empirical Economics and Social Sciences. 2020; 2(1): 59-81.
Vancouver Ai̇mer N . THE IMPACT OF OIL PRICE SHOCKS ON THE ECONOMIC GROWTH OF LIBYA: AN ARDL-BOUND TESTING APPROACH. Journal of Empirical Economics and Social Sciences. 2020; 2(1): 59-81.