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The effect of the decline in oil revenue on the import patterns of the members of the gulf cooperation council
Author(s) -
Metwally M. M.
Publication year - 1993
Publication title -
international journal of energy research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.808
H-Index - 95
eISSN - 1099-114X
pISSN - 0363-907X
DOI - 10.1002/er.4440170509
Subject(s) - revenue , boom , oil boom , commodity , per capita , economics , business , agricultural economics , international economics , finance , environmental science , macroeconomics , demography , population , environmental engineering , sociology
This paper examines the impact of the fluctuations in oil revenue on the import patterns of the GCC countries. The study is a disaggregated analysis of the relationship between imports of various commodity groups, using two‐digit SIT classifications and per capita income in each of the six members of the Gulf Cooperation Council (GCC). The research shows that the reduction in oil revenue since late 1982 has completely upset the import‐income relationship which was developed during the boom years, 1974–1981.