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Nabil Alimi and Nabil Aflouk
''The threshold effect of oil-price shocks on economic growth''
( 2017, Vol. 37 No.3 )
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
JEL: O4 - Economic Growth and Aggregate Productivity: General
C2 - Single Equation Models; Single Variables: General
Manuscript Received : Mar 27 2017 Manuscript Accepted : Aug 31 2017

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