The Experts below are selected from a list of 318 Experts worldwide ranked by ideXlab platform
Juncal Cunado - One of the best experts on this subject based on the ideXlab platform.
-
Structural Breaks and Real Convergence in OPEC Countries
Social Science Research Network, 2011Co-Authors: Juncal CunadoAbstract:This article examines the real convergence hypothesis in OPEC Countries (Algeria, Angola, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela) using time series techniques and allowing for structural breaks. The main results show lack of support for income convergence in OPEC Countries. We only find evidence of catch-up with the U.S. economy for the case of Indonesia, and for Angola in the last years of the sample. These findings are in line with the “resource curse” literature, which suggests that natural resource dependence inhibits economic growth. Furthermore, the results suggest that the country’s oil export dependence is negatively related with its per capita GDP growth rate.
-
Structural Breaks and Real Convergence in OPEC Countries
Journal of Applied Economics, 2011Co-Authors: Juncal CunadoAbstract:This article examines real convergence hypothesis in OPEC Countries (Algeria, Angola, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela) by means of using time series techniques and allowing for structural breaks. The results show the existence of structural breaks in the convergence process, most of them occurring around 1979-81, which suggests that this convergence process is related to the evolution of the oil price. Furthermore, when applying unit root tests allowing for structural breaks, we only find evidence of catch-up towards the U.S. economy for the case of Indonesia, and for Angola in the last years of the sample. When we define alternative reference economies, we also find evidence of conditional convergence with structural breaks, but only for Nigeria within Africa and for Kuwait relative to Countries in West-Asia.
Halvor Briseid Storrosten - One of the best experts on this subject based on the ideXlab platform.
-
oil consumption subsidy removal in OPEC and other non oecd Countries oil market impacts and welfare effects
Energy Economics, 2017Co-Authors: Finn Roar Aune, Knut Einar Rosendahl, Kristine M Grimsrud, Lars Lindholt, Halvor Briseid StorrostenAbstract:Abstract This paper studies the oil market effects of phasing out oil consumption subsidies in the transport sector. Welfare effects in different Countries are also examined. The paper further investigates potential feedback mechanisms of oil subsidy removal via lower oil prices in the global oil market, which may stimulate oil consumption in other regions. An intertemporal numerical model of the international oil market is applied, where OPEC-Core producers have market power. The major subsidisers of oil are OPEC Countries, and the effects of subsidy removal here are quite pronounced. Consumption of oil in the transport sector of OPEC Countries declines significantly. As a result, the global oil price falls slightly, and other regions increase their oil consumption to some degree. Although OPEC consumers are worse off by the subsidy removal, total welfare in OPEC increases due to higher profits from oil production.
-
oil consumption subsidy removal in OPEC and other non oecd Countries oil market impacts and welfare effects
Research Papers in Economics, 2016Co-Authors: Finn Roar Aune, Knut Einar Rosendahl, Kristine M Grimsrud, Lars Lindholt, Halvor Briseid StorrostenAbstract:This paper studies the oil market effects of phasing out oil consumption subsidies in the transport sector. Welfare effects in different Countries are also examined. We investigate potential feedback mechanisms of oil subsidy removal via lower oil prices in the global oil market, which may stimulate oil consumption in other regions. An intertemporal numerical model of the international oil market is applied, where OPEC-Core producers have market power. The major subsidizers of oil are OPEC Countries, and we find that the effects of subsidy removal here are quite pronounced. Consumption of oil in the transport sector of OPEC Countries declines significantly. As a result, the global oil price falls slightly, and other regions increase their oil consumption to some degree. Although OPEC consumers are worse off by the subsidy removal, total welfare in OPEC increases due to higher profits from oil production.
Tutut Herawan - One of the best experts on this subject based on the ideXlab platform.
-
Soft computing approach for predicting OPEC Countries’ oil consumption
International Journal of Oil Gas and Coal Technology, 2017Co-Authors: Haruna Chiroma, Adamu Abubakar, Tutut HerawanAbstract:Human activities in today's modern world would not be possible without oil. The oil consumed by the Organization of the Petroleum Exporting Countries (OPEC) has increased significantly. Several soft computing models exist for oil consumption modelling. However, the models are deficient in terms of predicting oil consumed by an OPEC country on the basis of the other OPEC Countries' oil consumption. In this paper, a soft computing method is proposed for predicting oil consumption in OPEC Countries. The significant, positive relationship among the oil consumption values of OPEC Countries is also investigated. It was found that it is possible to predict the oil consumption of any OPEC country on the basis of the oil consumption of other OPEC Countries with minimum and maximum accuracy of 94.63% and 97.10%, respectively. Statistical result validation clearly shows that the oil consumption predicted with the proposed model and the actual oil consumption are equal. The findings of this research can be applied for the efficient formulation of policies related to oil. Furthermore, oil consumption prediction is required for the management of greenhouse emissions, the creation of effective risk management frameworks, and revenue generation analysis. [Received: January 8, 2015; Accepted: November 23, 2015]
-
Soft computing approach for predicting OPEC Countries' oil consumption
International Journal of Oil Gas and Coal Technology, 2017Co-Authors: Haruna Chiroma, Adamu I. Abubakar, Tutut HerawanAbstract:Human activities in todays modern world would not be possible without energy. The energy consumed by the Organization of the Petroleum Exporting Countries (OPEC) has increased significantly. In this paper, a soft computing method is proposed for predicting oil consumption in OPEC Countries. The significant, positive relationship among the oil consumption values of OPEC Countries is also investigated. It was found that it is possible to predict the oil consumption of any OPEC country on the basis of the oil consumption of other OPEC Countries with minimum and maximum accuracy of 94.6268% and 97.0994%, respectively. Statistical result validation clearly shows that the oil consumption predicted with the proposed model and the actual oil consumption are statistically equal. The findings of this research can be applied for the efficient formulation of policies related to energy. Furthermore, energy consumption prediction is required for the management of greenhouse emissions, the creation of effective risk management frameworks, and revenue generation analysis
Abraham Lartey - One of the best experts on this subject based on the ideXlab platform.
-
Re-visiting the renewable energy–economic growth nexus: Empirical evidence from African OPEC Countries
International Journal of Energy Sector Management, 2017Co-Authors: Oluwafisayo Alabi, Ishmael Ackah, Abraham LarteyAbstract:Purpose This paper aims to investigate the dynamic relationship between renewable energy and economic growth in African OPEC member Countries (Angola, Algeria and Nigeria). Design/methodology/approach The fully modified ordinary least squares technique for heterogeneous cointegrated panels (Pedroni, 2000) is used to estimate the parameters of the model. Findings The study revealed four main findings. First, there is a bidirectional causality between renewable energy and economic growth in the long and the short run. Second, a bidirectional causality exists between non-renewable energy and economic growth in the short and long run. Third, a bidirectional causality exists between CO2 emissions and economic growth. Fourth, a unidirectional causality was also found between CO2 emissions and non-renewable energy consumption with the direction of causality stemming from the consumption of non-renewable energy to CO2 emissions. Practical implications Because renewable consumption enhances growth, OPEC-member Africa Countries should encourage investment in modern renewable sources that has high conversion efficiency such as solar, wind and hydro to strengthen their response to mitigating the impacts of climate change. Originality/value This study applies multiple methods to analyze the relationship between renewable energy and economic growth in African OPEC Countries.
-
re visiting the renewable energy economic growth nexus empirical evidence from african OPEC Countries
International Journal of Energy Sector Management, 2017Co-Authors: Oluwafisayo Alabi, Ishmael Ackah, Abraham LarteyAbstract:Purpose This paper aims to investigate the dynamic relationship between renewable energy and economic growth in African OPEC member Countries (Angola, Algeria and Nigeria). Design/methodology/approach The fully modified ordinary least squares technique for heterogeneous cointegrated panels (Pedroni, 2000) is used to estimate the parameters of the model. Findings The study revealed four main findings. First, there is a bidirectional causality between renewable energy and economic growth in the long and the short run. Second, a bidirectional causality exists between non-renewable energy and economic growth in the short and long run. Third, a bidirectional causality exists between CO2 emissions and economic growth. Fourth, a unidirectional causality was also found between CO2 emissions and non-renewable energy consumption with the direction of causality stemming from the consumption of non-renewable energy to CO2 emissions. Practical implications Because renewable consumption enhances growth, OPEC-member Africa Countries should encourage investment in modern renewable sources that has high conversion efficiency such as solar, wind and hydro to strengthen their response to mitigating the impacts of climate change. Originality/value This study applies multiple methods to analyze the relationship between renewable energy and economic growth in African OPEC Countries.
Finn Roar Aune - One of the best experts on this subject based on the ideXlab platform.
-
oil consumption subsidy removal in OPEC and other non oecd Countries oil market impacts and welfare effects
Energy Economics, 2017Co-Authors: Finn Roar Aune, Knut Einar Rosendahl, Kristine M Grimsrud, Lars Lindholt, Halvor Briseid StorrostenAbstract:Abstract This paper studies the oil market effects of phasing out oil consumption subsidies in the transport sector. Welfare effects in different Countries are also examined. The paper further investigates potential feedback mechanisms of oil subsidy removal via lower oil prices in the global oil market, which may stimulate oil consumption in other regions. An intertemporal numerical model of the international oil market is applied, where OPEC-Core producers have market power. The major subsidisers of oil are OPEC Countries, and the effects of subsidy removal here are quite pronounced. Consumption of oil in the transport sector of OPEC Countries declines significantly. As a result, the global oil price falls slightly, and other regions increase their oil consumption to some degree. Although OPEC consumers are worse off by the subsidy removal, total welfare in OPEC increases due to higher profits from oil production.
-
oil consumption subsidy removal in OPEC and other non oecd Countries oil market impacts and welfare effects
Research Papers in Economics, 2016Co-Authors: Finn Roar Aune, Knut Einar Rosendahl, Kristine M Grimsrud, Lars Lindholt, Halvor Briseid StorrostenAbstract:This paper studies the oil market effects of phasing out oil consumption subsidies in the transport sector. Welfare effects in different Countries are also examined. We investigate potential feedback mechanisms of oil subsidy removal via lower oil prices in the global oil market, which may stimulate oil consumption in other regions. An intertemporal numerical model of the international oil market is applied, where OPEC-Core producers have market power. The major subsidizers of oil are OPEC Countries, and we find that the effects of subsidy removal here are quite pronounced. Consumption of oil in the transport sector of OPEC Countries declines significantly. As a result, the global oil price falls slightly, and other regions increase their oil consumption to some degree. Although OPEC consumers are worse off by the subsidy removal, total welfare in OPEC increases due to higher profits from oil production.
