The threshold effect of oil-price shocks on economic growth

Nabil Alimi () and Nabil Aflouk ()
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Nabil Alimi: University of Tunis el Manar , Faculty of Economic Sciences and Management of Tunis
Nabil Aflouk: University of Jendouba, Faculty of Law, Economics and Management of Jendouba

Economics Bulletin, 2017, vol. 37, issue 3, 1942-1958

Abstract: This paper investigates the effects of positive and negative oil price shocks on economic growth in GCC economies over the period 1980 - 2015, using the Panel Smooth Transition Regression (PSTR) model. The findings confirm that firstly, the relationship between economic growth and oil price shocks is non-linear and it is characterized by the presence of a threshold effect. Secondly, the effect of the oil price shock is larger than as long as it is below the threshold level.

Keywords: Economic Growth; oil price shocks; PSTR model (search for similar items in EconPapers)
JEL-codes: C2 O4 (search for similar items in EconPapers)
Date: 2017-08-31
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