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Determinants of economic growth in OPEC : an extreme bounds analysis
Author(s) -
ZarraNezhad Mansour,
Hosseinpour Fatimah
Publication year - 2014
Publication title -
opec energy review
Language(s) - English
Resource type - Journals
eISSN - 1753-0237
pISSN - 1753-0229
DOI - 10.1111/opec.12034
Subject(s) - economics , robustness (evolution) , econometrics , convergence (economics) , panel data , macroeconomics , biology , biochemistry , gene
The aim of this study is to identify robust determinants of economic growth in O rganization of P etroleum E xporting C ountries ( OPEC ). To examine the robustness of 101 potential determinants of economic growth in OPEC about 11 million regressions are estimated. The results of extreme bounds analysis with the unbalanced panel data of 21 years shows that variety of trade policy measures are robust and support export‐led growth hypothesis. Proxies of export passed very strict test of L evine and R enelt, while oil export is not robust. The results also support conditional‐convergence hypothesis.