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Dynamic relationships between oil revenues, government spending and economic growth in an oil-dependent economy

descriptionPublicationkeyboard_double_arrow_right Article , Journal , Preprint 01 Sep 2013 Belgium, France Publisher:Elsevier BVJournal:Economic Modelling, volume 35, pages 118-125 (issn: 0264-9993,

Authors: Hamdi, Helmi; Sbia, Rashid;

doi: 10.1016/j.econmod.2013.06.043

handle: 2013/ULB-DIPOT:oai:dipot.ulb.ac.be:2013/199927

Dynamic relationships between oil revenues, government spending and economic growth in an oil-dependent economy

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Abstract

Abstract The aim of this paper is to empirically examine the dynamic relationships between oil revenues, government spending and economic growth in the Kingdom of Bahrain. Oil revenues are the main source of financing government expenditures and imports of good and services. Increasing oil prices in the recent years have boosted public expenditures on social and economic infrastructure. In this paper, we investigate whether the huge government spending has enhanced the pace of economic growth or not. To this end, we use a multivariate cointegration analysis and error-correction model and data for 1960–2010. Overall results suggest that oil revenues remain the principal source for growth and the main channel which finance the government spending.

Countries

Belgium, France

Related Organizations

Laboratoire Parole et Langage
France
Université Libre de Bruxelles
Belgium

Keywords

[SHS.ECO]Humanities and Social Sciences/Economies and finances, Growth, [SHS.ECO] Humanities and Social Sciences/Economics and Finance, ECM, Government expenditures, [SHS.ECO]Humanities and Social Sciences/Economics and Finance, Bahrain, Econométrie et méthodes statistiques :théorie et applications, Oil revenues, Oil revenues, Government expenditures, Economic Growth, Bahrain, ECM, jel: jel:E62, jel: jel:N1, jel: jel:C3, jel: jel:C32, jel: jel:H50, jel: jel:H54, jel: jel:N15

Impact byBIP!

	citations This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).	115
	popularity This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.	Top 1%
	influence This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).	Top 10%
	impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.	Top 10%