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Explaining the GDP trend of oil-exporting countries during COVID-19 period: The role of governance, adaptive stringency and fiscal policy OPEC Energy Review Pub Date : 2024-03-07 Mahieddine Adnan Ghecham
This paper brings to light the factors that played major role in explaining the trend of the economic growth of a number of oil-exporting countries during the pandemic period, specifically, during the years 2020–2021 and 2022. The results show that the institutional factors, adaptive restrictions as well as the degree of trade openness and the size of government fiscal intervention were major determinants
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Oil price shocks pass-through to domestic prices in Nigeria OPEC Energy Review Pub Date : 2024-02-22 Samuel Orekoya, Oluwatosin Adeniyi, Idris Tijani
The study investigated the potential non-linear impacts of fluctuations in oil prices on domestic prices in Nigeria. Utilising the non-linear autoregressive distributed lag (NARDL) model, the study revealed the presence of asymmetry in the behaviour of domestic prices. Both forms of oil price shocks were observed to have a negative influence on domestic prices in the short term, with only positive
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Global uncertainties, geopolitical risks and price exuberance: Evidence from international energy market OPEC Energy Review Pub Date : 2024-02-17 Suleiman O. Mamman, Jamilu Iliyasu, Umar A. Ahmed, Felicity Salami
The interaction of global uncertainty and geopolitical risks with energy price fluctuations has remained a critical global issue. This interaction can impact several regions' macroeconomic performance and welfare by making fundamental energy price forecasting more difficult, which may lead to exuberant behaviour. To help producers, consumers, and regulators make informed decisions in the face of volatile
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Modelling and forecasting India's electricity consumption using artificial neural networks OPEC Energy Review Pub Date : 2024-01-17 Arunava Bandyopadhyay, Bishal Dey Sarkar, Md. Emran Hossain, Soumen Rej, Mohidul Alam Mallick
Precise electricity forecasting is a pertinent challenge in effectively controlling the supply and demand of power. This is due to the inherent volatility of electricity, which cannot be stored and must be utilised promptly. Thus, this study develops a framework integrating canonical cointegrating regressions (CCR), time series artificial neural network (ANN) and a multilayer perceptron ANN model for
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Does energy consumption improve human capital development? Empirical evidence from panel non-linear autoregressive distributed lag in Africa OPEC Energy Review Pub Date : 2023-09-12 John Bosco Dramani, Bright Tetteh, Mahawiya Sulemana, Godfred Aawarr
The contributions of human capital to improvement in socio-economic outcomes have generated significant interest in its determinants. On one hand, there is the orthodox view which states that energy consumption does not promote human capital development. In contrast, the heterodoxies argue that energy consumption is an essential driver of human capital development. Thus, we explore the asymmetric effects
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Does price of oil and inflation have an impact on the GDP of Africa's largest net oil importers? Evidence from a non-linear heterogeneous panel ARDL OPEC Energy Review Pub Date : 2023-09-01 M. T. Saidu
The article explores the non-linear relationship between oil prices, inflation, and GDP in eight African countries that import oil from other nations. The study uses various econometric techniques, including symmetric and asymmetric dynamic panel ARDL models, mean group, and pooled mean group approaches, to examine quarterly data from 1983 Q2 to 2020 Q4. The analysis looks at both short-term and long-term
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Attaining environmental sustainability amidst the interacting forces of natural resource rent and foreign direct investment: Is Norway any different? OPEC Energy Review Pub Date : 2023-08-31 Edmund Ntom Udemba, Vishal Dagar, Xuhu Peng, Leila Dagher
This is a study of Norway's sustainable environment development amidst the interactions of natural resources, external investment (FDI) and economic development. Much has been done with respect to the study of Norway's economic performance in relation to the link between the natural resources and FDI with little emphasis on the environmental performance of the resource-based economy. Also, Norway is
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Determinants of remittance outflows: The case of Saudi Arabia OPEC Energy Review Pub Date : 2023-08-10 Muhammad Javid, Fakhri J. Hasanov
The Saudi Arabian economy heavily uses foreign labour and hence, ranks among the top countries not only in the Gulf Cooperation Council region, but also globally in terms of remittance outflows. This study develops a theoretical model to investigate the determinants of remittance outflows from Saudi Arabia. The cointegration and equilibrium correction methods, and adjustments for small sample bias
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Testing the effects of banking development, economic growth and foreign direct investment on renewable energy in South Africa OPEC Energy Review Pub Date : 2023-07-26 Ahmed Samour, Mumtaz Ali, Hariem Abdullah, Delani Moyo, Turgut Tursoy
The world's climate-related policies need to be revised to combat environmental issues. Therefore, adopting renewable energy technologies in conjunction with energy efficiency measures are needed to make safe pathways to reduce over 90% of energy related CO2. In this context, this study intends to assess the influence of foreign direct investment (FDI), economic growth, and banking and development
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Do oil prices have an asymmetric impact on economic output in India? Empirical evidence using asymmetric cointegration approach OPEC Energy Review Pub Date : 2023-07-11 Vishal Sharma, Masudul Hasan Adil, Sana Fatima
This study examines the nexus between oil prices (Oil) and economic output (IIP) asymmetrically in the Indian context using quarterly data from 1996–1997:Q1 to 2019–2020:Q4. To this end, we have used a nonlinear autoregressive distributed lag (NARDL) model. The main findings of the study are as follows—firstly, the Wald test confirms the nonlinearities among the negative and positive shocks in Oil
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Predicting Indian electricity exchange-traded market prices: SARIMA and MLP approach OPEC Energy Review Pub Date : 2023-07-10 Sonal Gupta, Deepankar Chakrabarty, Rupesh Kumar
This research investigates the short-term (ST) forecasting performance of the daily prices of the Indian exchange-traded day-ahead (DAM) market, divided into 13 bid areas, each consisting of states with varied fundamentals. Forecasts are built employing SARIMA (seasonal autoregressive integrated moving average) and MLP (multilayer perceptron) methods. Moreover, the robustness and performance of the
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Hydrocarbon price spillover to banking performance in Eurozone OPEC Energy Review Pub Date : 2023-07-07 Nahla Samargandi
The current study investigates the impact of real oil price shocks on the Eurozone banking sector from February 2009 to February 2022, using the Structural Vector Autoregressive method to distinguish the reaction between Eurozone bank indices and three structural indicators in the oil market shocks. The shocks include global oil demand, supply shock, and specific oil market shocks. Our findings show
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The effect of oil price shocks on stock market performance in selected African countries OPEC Energy Review Pub Date : 2023-07-03 Chukwuemelie C. Okpezune, Mehdi Seraj, Huseyin Ozdeser
The study's objective was to investigate how changes in oil prices affect stock market performance. The study's population consisted of selected African countries chosen based on factors like the size of their stock markets and whether or not they import or export oil. The world development indicator (WDI) and the OPEC bulletin or website served as sources for the data. The vector error correction
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The impact of oil price shocks on the agricultural commodity prices OPEC Energy Review Pub Date : 2023-06-06 Ozge Kandemir Kocaaslan
In this study, we empirically examine the effects of oil-related shocks on the prices of nine agricultural commodities for the period 1974:01–2022:02. We decompose real oil prices into three independent parts: oil supply shocks; global demand shocks; demand shocks that are specific to the crude oil market applying a symmetric VAR model. Then, we assess the effects of these three shocks on the prices
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How economic growth, sustainable energy and carbon emission impact each other? New insights from India using ARDL approach OPEC Energy Review Pub Date : 2023-05-03 Jasvinder Kaur, Kamaljit Singh, Rashmi Chaudhary, Simmi Vashishtha
This study investigates the association among economic growth, sustainable energy consumption and carbon emission with additional variables including fossil fuel energy consumption, natural gas and trade openness. The annual time-series data from 1972 to 2019 is analysed using an auto-regressive distributive lag model. Moreover, the novelty and robustness of the model are verified using dynamic ordinary
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Simulating policy responses to multiple economic shocks: An experiment with combined impacts of COVID-19 and oil price crash on Kuwait OPEC Energy Review Pub Date : 2023-04-12 Ayele U. Gelan, Sulayman Al-Qudsi, Ahmad AlAwadhi
Researchers and policy-makers are used to measuring impacts of an economic shock. However, multiple economic shocks generate disruption that are challenging, not just analytically but also in the interpretations of results (Pagan & Robinson, European Economic Review, 145, 2022, 104120). The disruptions come through multiple channels whose impacts were trickier to measure than emanating from those of
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Exchange rate misalignment: A systematic literature review based on citation and content analysis OPEC Energy Review Pub Date : 2023-04-03 Asma Fiaz, Nisar Ahmad, Almukhtar Al-Abri, Nabila Khurshid, Angeliki Menegaki
Exchange rate policy is regarded as a critical macroeconomic policy. Especially the misalignment of exchange rates is significantly impact on imported goods, particularly oil imports, which ultimately effect external and internal imbalances. This study conducts a systematic literature review on exchange rate misalignment, as well as an intriguing content analysis of the top 100 most cited articles
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Wavelet based analysis of oil price shocks, exchange rate and stock market behaviour: Evidences from emerging markets OPEC Energy Review Pub Date : 2023-03-28 Amrita Kaur, Prabhat Mittal
During the second quarter of 2020, with an impact of novel coronavirus (COVID-19), the oil sector has witnessed the most volatile phase of our economic history. Liquidity in the market became extremely tight and significantly impacted the stock markets. The study primarily aims at investigating the interdependence of the crude oil prices, Nifty50 Index and USDINR exchange rates. Wavelet coherence plots
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Assessing the effect of real estate market and renewable energy on environmental quality in Belgium OPEC Energy Review Pub Date : 2023-03-24 Ahmed Samour, Joshua Chukwuma Onwe, Nasiru Inuwa, Muhammad Imran, Innocent Abanum Ifelunini, Obonetse Fulu
The current research aims to study the influence of the real estate market and renewable energy on ecological quality in Belgium from 1990 to 2018. The recent study is quite different from the previous empirical literature on environmental quality; it introduces a new discourse on the determinant of environmental quality followed by Belgium's real estate market. This work employed a more robust and
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Analysis of the synchronisation of energy consumption: Evidence from G7 countries OPEC Energy Review Pub Date : 2023-03-16 Yacouba Kassouri, Faik Bilgili, Sevda Kuşkaya, Andrew Adewale Alola
Given differences in the efficiency of oil use of local and foreign technologies across countries, characterising the degree of synchronisation of oil consumption is of great concern and consequence for economic, political, and, not least, climate change reasons. Building on the business cycle theory, we characterise the degree of synchronisation of oil consumption with world consumption among the
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The causal link between electricity transmission, distributional losses and economic growth in Ghana OPEC Energy Review Pub Date : 2022-12-21 Opoku Adabor, Enock Kojo Ayesu, Elizabeth Nana-Amankwaah
Despite the growing literature on the causal association between electricity supply and economic growth, little is known about the causal linkage between electricity transmission and distributional losses and economic growth, particularly in Ghana. The paper studies the causal association between electricity transmission, distributional losses and economic growth in Ghana. Further, we interacted ETDL
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Asymmetric relationship between oil prices and remittances in oil-importing and -exporting countries: Evidence from sub-Saharan Africa OPEC Energy Review Pub Date : 2022-12-20 James Temitope Dada, Taiwo Akinlo
This study investigated the asymmetric impact of oil price on remittances in oil-exporting and -importing nations in sub-Saharan Africa (SSA). The study adopted the nonlinear autoregressive distributed lag (NARDL) technique for 22 SSA countries. The study found that in oil-importing countries, positive shocks in oil prices boost the influx of remittances, whereas a fall in oil prices reduces remittances
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Energy consumption, economic growth and energy transition in Africa: A cross-sectional dependence analysis OPEC Energy Review Pub Date : 2022-12-13 Solomon Ochada Omaye, Suleiman Sa'ad, Ahmad Hamma Adama, Rakiya Dotti
By adopting Westerlund's panel cointegration test, and the panel Granger, non-causality test, this study investigates the long-run and causal relationship between energy consumption and economic growth and energy transition in Africa. The test took into account cross-sectional dependency for five African areas from 1990 to 2018. The models additionally contain labour and capital stocks to investigate
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Transition to energy-efficient and clean transportation system in Nigeria: Evidence from transportation fuels demand analysis OPEC Energy Review Pub Date : 2022-10-30 Suleiman Sa'ad, Solomon Ochada Omaye, Ahmad Hamma Adama, Rakiya Dotti, Baba Ali Usman
This paper examines the prospects and challenges of transition from the current inefficient and highly polluting road transportation system in Nigeria to a highly efficient and environmentally friendly road transportation system. The study used time-series data from 1981 to 2019 within the framework of demand for gasoline and diesel in the structural time-series estimation model, where the concept
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The impact of climate action on energy security in West Africa: Evidence from Burkina Faso, Ghana and Nigeria OPEC Energy Review Pub Date : 2022-10-20 Gideon Ofosu-Peasah, Eric Ofosu Antwi, William Blyth, Khadija Sarquah
The study investigates the impact of climate action on energy security in West Africa using an autoregressive distributed lag and an error correction model. Empirical results for Burkina Faso showed that total carbon emissions and climate finance improved energy security performance in the country in the short and long run, while capacity building and energy efficiency impaired energy security performance
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Curbing environmental degradation through energy transition in ASEAN-9: Does the interactive role of political will matter? OPEC Energy Review Pub Date : 2022-10-12 Chindo Sulaiman, Azeem Oluwaseyi Zubair, Abdul Samad Abdul-Rahim
This study estimates the impact of energy transition and the interactive role of political will on environmental degradation in the Association of South East Asian Nations (ASEAN) over the 1999–2020 period. Using pooled mean group and fully modified ordinary least squares estimators, the estimated results revealed that energy transition and political will have negative impact on environmental degradation
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Electricity access, demographic transition and sustainable growth in frontier economies OPEC Energy Review Pub Date : 2022-10-06 Taofeek Olusola Ayinde, Farouq Adekunmi Adeyemi, Basiru Oyeniran Fatai
The study investigates the mediating role of population growth in the nexus between electricity access and sustainable growth of frontier economies. The study spans the period 2000–2020 for a panel of 25 frontier economies. Predicated on a modified environmental Kuznets curve (EKC) model, the technique of analysis is the panel quantile regression across the three major threshold levels of 25th, 50th
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Financing the energy transition in a green sub-Saharan African (SSA) environment: Does energy intensity matter? OPEC Energy Review Pub Date : 2022-10-05 Ebere Ume Kalu, Chuck Augustine Arize, Chinwe R. Okoyeuzu, Florence U. Nwafor, Felicia Osondu Okwueze
This study looked at the impact of financial development, environmental sustainability and energy intensity on the transition of SSA countries to safe and green energy use. This was pursued using a dynamic panel model—system generalized method of moments (SGMM), given its capacity to address endogeneity problems in panel estimation processes. The study used datasets covering a 25-year period (1995–2020)
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Modelling oil price shocks and exchange rate behaviour in Nigeria – A regime-switching approach OPEC Energy Review Pub Date : 2022-10-03 Taofeek Olusola Ayinde, Farouq Adekunmi Adeyemi, Busrah Agbaje Ali-Balogun
Consequent upon the intermittent variations in the global oil prices over the years and its attendant effects on exchange rate dynamics of oil-rich economies, the study investigates the regime-switching behaviour of oil price shocks and exchange rate behaviour in Nigeria. The period of investigation spans 1980q1 – 2020q4 and the technique of analysis is the Markov-Switching Dynamic Regression. Predicated
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The hybrid power generation and balancing energy supply–demand for rural village in Ethiopia OPEC Energy Review Pub Date : 2022-10-03 Getachew Tesfaye Gezahegn, Samuel Dagalo Hatiye, Melkamu Teshome Ayana, Abebe Temesgen Ayalew, Thomas Torora Minda
Ethiopia has a wide range of environmentally-friendly, renewable energy resources that can assist the country to overcome its rural electricity problems. The Hybrid Optimization Model for Multiple Energy Resources (HOMER) software package was used to evaluate the viability of solar, hydro and wind hybrid power generation for a remote community in Ethiopia's Geba catchment. The hydrologic, climatic
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The oil price uncertainty effect on stock returns of the Indian renewable energy firms under different market conditions OPEC Energy Review Pub Date : 2022-10-02 Lalatendu Mishra, Rajesh H. Acharya
This study investigates the oil price uncertainty effect on stock return of the Indian renewable energy firms under different market conditions. We use the Oil Volatility Index (OVX) as a proxy of oil price uncertainty. All renewable energy companies listed on the National Stock Exchange of India are considered. Monthly data are analysed from January 2009 to December 2019 using panel quantile regression
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The moderating role of information and communication technology in the nexus between financial development, economic growth and energy consumption OPEC Energy Review Pub Date : 2022-09-24 Jaleel Ahmed, Raies, Umar Farooq, Bilal Haider Subhani
This study exposes the potential role of financial development to determine economic growth and utilisation of energy. Moreover, it also identifies how information communication technology (ICT) moderates this relationship. By sampling a large range of data from 138 economies for the year 1980–2020, the current study employs the panel least square model to test the regression. The result reveals that
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Strategic alignment of pricing oil products from Brent conditionally on market regimes using Markov and cluster-based switching dynamics OPEC Energy Review Pub Date : 2022-08-02 Petros Theodorou, Nikos Apokoritis
Asymmetries and non-linearities in oil prices are of high importance for energy policy and strategy. The effectiveness of energy policy depends heavily on the ‘conceptualization’ of states, regimes and less on the absolute price level. Based on the strategic alignment theory and the matching perspective, we claim that recurring oil market dynamics showcase the existence of various regimes across which
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A quantile regression analysis of mediating impacts of institutions in environmental quality-health outcomes nexus in sub-Saharan Africa OPEC Energy Review Pub Date : 2022-02-20 Olorunfemi Yasiru Alimi, Kazeem Bello Ajide, Folorunso Sunday Ayadi
This study examines the role of institutions in reducing a presumably negative impact of poor environmental quality on health outcomes, using a panel of 45 sub-Saharan African countries over the period, 1996–2016. The empirical estimation is based on the panel quantile regression estimator. The study established inter alia: first, the declining health status occasioned by environmental degradation
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Renewable and non-renewable energy resources of Pakistan and their applicability under the current scenario in Pakistan OPEC Energy Review Pub Date : 2022-02-19 Muhammad Asif, Muhammad Umar Salman, Saqaina Anwar, Maryam Gul, Reema Aslam
Energy is a basic need for human development but unfortunately, every country in the world has unequal energy reserves. The energy crisis is the most influential crisis for the World and especially Pakistan to affect the economic, social and environmental health of the society. The purpose of this study is to investigate the connection between the different energy sources for the cost, yield, and other
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Increases in oil price or oil exports: Which one is more positive on trade balance for African OPEC Member Countries? OPEC Energy Review Pub Date : 2022-02-15 Umar Bala, Lee Chin
This study examines whether an increase in oil prices or oil exports will improve the trade balance in African OPEC Member Countries. The annual panel data of four African OPEC Member Countries, namely Algeria, Angola, Libya and Nigeria were used in the study. The aim of the study is to determine whether African OPEC Member Countries will benefit more from an increase in oil prices or an increase in
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Investigating the causal linkage among economic growth and renewable and non-renewable energy consumption: cases of Germany, the UK and France OPEC Energy Review Pub Date : 2021-12-07 Mounir El-Karimi
This empirical study examines the causal links among renewable energy consumption (REC) and non-renewable energy consumption (NREC) and economic growth in Germany, the UK and France between 1980 and 2019. To this purpose, we use two different approaches: Toda and Yamamoto (Journal of Econometrics, 66, 1995, 225) time causality test and Lemmens et al. (International Journal of Forecasting, 24, 2008
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Resource curse hypothesis: fresh evidence from OPEC member countries OPEC Energy Review Pub Date : 2022-01-02 Nasiru Inuwa, Haruna Usman Modibbo, Sagir Adamu, Mohammed Bello Sani
This study investigated the impact of natural resources on economic growth among the Organization of the Petroleum Exporting Countries (OPEC) by controlling for institutional quality and financial development during the period 2008–2018. The study applied the recent generalised method of moment estimation method proposed by Kripfganz (2019, Generalized method of moments estimation of linear dynamic
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Crude oil production and macroeconomic performance in Ghana OPEC Energy Review Pub Date : 2021-12-22 Delali Aku Tunyo, Mark Armah, William Godfred Cantah, Shafic Suleman
The objective of this study was to investigate the impact of crude oil production on macroeconomic performance in Ghana. The study employed monthly data from January 2011 to December 2018. The structural vector autoregressive model was employed to analyse the impact of crude oil production on macroeconomic performance. The findings of the structural impulse response function revealed that crude oil
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Monetary volatility and the dynamics of economic growth: An empirical analysis of an oil-based economy, 1970–2018 OPEC Energy Review Pub Date : 2022-02-11 Abdulaziz Hamad Algaeed, Basmah S. Algethami
Over the past decades, and since the first development plan in 1970, Saudi Arabia has controlled the stability of its economy through prudent fiscal policy and tight monetary policy. This study examines the impact of monetary volatility on real gross domestic product (GDP) growth in an oil-based economy from 1970 to 2018, using the Hodrick–Prescott filtering approach. Although standard methods such
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The impact of optimized electricity tariff changes towards renewable energy and non-renewable energy growth in Malaysia OPEC Energy Review Pub Date : 2022-02-11 Noriza Mohd Saad, Munirah Ramli, Mohamad Taufik Mohd Arshad, Ahmad Lutfi Mohayiddin
The purpose of this study is to investigate the impact of electricity tariff changes towards renewable energy (RE) and non-RE growth in Malaysia. Recently, the growth of RE explains the interest of the world to shift the source of generating electricity towards green environmental sustainability. Thus, the utility provider predicts a decreased demand for electricity associated with the rise of RE and
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The effect of oil prices on headline and core inflation in Jordan OPEC Energy Review Pub Date : 2022-02-09 Rami Hijazine, Ghazi Al-Assaf
This paper examined the effect of oil prices on headline and core inflation in Jordan over the period 2002Q1–2019Q4. Using the Johansen cointegration test and the vector error correction model, the empirical findings show that, in the short-run, oil prices have a positive significant effect on headline inflation, and a unidirectional Granger causality relationship from oil prices only to headline inflation
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Does overseas eco-friendly innovation collaboration matter for environmental quality sustainability in India? OPEC Energy Review Pub Date : 2022-02-05 Muhammed Ashiq Villanthenkodath, Mantu Kumar Mahalik
The nexus between technological innovations and environmental quality has been much discussed in the field of energy economics and policy. However, the role of overseas eco-friendly innovation collaboration on environmental quality in India remains unaddressed. In such a line, our study raises the question of whether overseas eco-friendly innovation collaboration and total technological innovations
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Interconnection between cryptocurrencies and energy markets: an analysis of volatility spillover OPEC Energy Review Pub Date : 2022-02-05 Mohd Afjal, Kavya Clanganthuruthil Sajeev
The annual energy consumption of cryptocurrencies has been increasing in recent years. This paper studies the cryptocurrencies return volatility spillover and the underlying dynamics of five cryptocurrencies, namely Bitcoin, Bitcoin Cash, Ethereum, Ripple XRP and Litecoin's impact on four energy markets, namely Nifty Energy Index, S&P 500 Energy Index, S&P/TSX Canadian Energy Index and Shanghai Stock
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Crude – energy crops nexus in light of biofuel policies: An empirical investigation from India OPEC Energy Review Pub Date : 2022-02-04 Rakesh Shahani, Anishka Taneja, Anusha Goel
The present study makes an attempt to empirically investigate the impact of crude prices on energy crops for India (wheat, sugarcane and soybean) during the period Jan 2016–Dec 2020 by taking daily closing spot prices of these energy crops and crude. The models applied to study the relation are autoregressive distributed lag (ARDL) (for linear) and NARDL (for non-Linear) variables. The study results
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An analysis of energy, environment and economic growth (EEE) nexus: a 2SLS approach OPEC Energy Review Pub Date : 2022-02-04 Mowshumi Sharmin, Sima Rani Dey, Faroque Ahmed, Mohammad Tareque
The growing apprehension of global warming, greenhouse gas emissions and increasing use of fossil fuel due to emergent economic activity signifies that for the sustainability of the environment cleaner energy use is important. In the same pursuit, this study aims to examine the energy, environment and economic growth nexus of Bangladesh, incorporating both renewable and non-renewable energy consumption
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A nexus between renewable energy, FDI, oil prices, oil rent and CO2 emission: panel data evidence from G7 economies OPEC Energy Review Pub Date : 2022-02-04 Saransh Royal, Kamaljit Singh, Ramesh Chander
Volatile energy prices, supply chain vulnerability and ecological implications of depleting fossil fuels have obligated the nations to swap carbon energy resources with sustainable and consumption energy choices. The study aims to investigate the sustaining connection of renewable energy consumption with trade openness, oil rent (OR), oil prices (OP) and carbon dioxide emissions of the G7 nations over
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Price, income and exchange rate asymmetric elasticities of oil consumption in Greece, Ireland, Italy, Portugal and Spain OPEC Energy Review Pub Date : 2022-02-04 Emmanuel Uche
The dynamic relationship between oil price variations, changing income, exchange rate deviations and oil consumption has preoccupied the minds of many energy researchers albeit contradicting submissions. On this note, this study seeks to evaluate the possible asymmetric impact of the aforementioned variables on oil consumption in selected European countries, including Greece, Ireland, Italy, Portugal
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The nonlinear and asymetric pass-through effect of crude oil prices on inflation OPEC Energy Review Pub Date : 2022-02-03 Utku Altunöz
This paper examines pass-through of crude oil prices on consumer prices index (CPI) and producer prices index (PPI) in Turkey in the augmented Phillips curve context by applying ARDL (autoregressive distributed lag) and NARDL (non-linear ARDL) models. The results show that the effects of volatility in crude oil prices to Turkey’s consumer price index and producer prices index are not symmetrical in
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Effect of oil price volatility on the trade balance in sub-Saharan Africa OPEC Energy Review Pub Date : 2022-02-02 Priscilla Forson, John Bosco Dramani, Prince Boakye Frimpong, Eric Arthur, Sulemana Mahawiya
Crude oil price volatility as an important driver of the trade balance of economies has been widely documented in the literature. However, studies on the effect of oil price volatility on the trade balance in sub-Sahara Africa (SSA) are limited. In this paper, we explore the effect of crude oil price volatility on the trade balance across 34 SSA countries using Pooled Mean Group (PMG) and Common Correlated
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Do energy consumption and carbon emissions impact economic growth? New insights from India using ARDL approach OPEC Energy Review Pub Date : 2022-02-01 Kamaljit Singh, Jasvinder Kaur
This paper investigates the association among energy consumption, carbon-dioxide emission, and India's economic growth along with supplemental variables including foreign direct investment, population density, inflation, and agricultural land. An autoregressive distributive lag model is applied over annual time-series data from 1985 to 2019. Further, the robustness and novelty of the model are confirmed
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Oil prices and Mexico’s exchange rates in North America OPEC Energy Review Pub Date : 2022-02-01 Hamid Baghestani, Abdelaziz Chazi, Ashraf Khallaf
Evidence indicates that since the early 2000s, the central bank in Mexico has been able to implement a solid and credible monetary policy, which has resulted in maintaining the purchasing power of the Mexican peso. Motivated by such evidence and the fact that Mexico (like Canada and the US) is a major oil-producing country, we set out to examine the dynamic relationship among oil prices and Mexico-Canada
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On the crossroad – renewable energy sources or shale oil? Understanding patterns of social attitudes in Jordan OPEC Energy Review Pub Date : 2021-12-05 Nadejda Komendantova, Leena Marashdeh, Ahmed Al-Salaymeh, Sara Al Twassi, Rasha AlBeek, Kholoud Hassouneh
Energy policy in Jordan is a contested issue as several options for deployment of technologies exist. Shale oil and renewable energy sources are two energy generation technologies which are currently being intensively considered by the Jordanian energy policy process and there are shale oil and renewable energy projects which are currently in operation, in planning or in construction. Each of these
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The asymmetric impact of oil price shocks on economic uncertainty: evidence from the asymmetric NARDL model OPEC Energy Review Pub Date : 2021-11-20 Nagmi Aimer, Abdulmula Lusta
The aim of this article is to investigate the asymmetric effects of the oil price on economic policy uncertainty for the period from January 1997 to May 2021 using a non-linear autoregressive distributed lag approach. The results of the bounds test indicate that there is a long-run equilibrium relationship between the economic uncertainty index and oil price. Furthermore, we conclude that the long-run
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How does purchasing power in OPEC countries respond to oil price periodic shocks? Fresh evidence from Quantile ARDL specification OPEC Energy Review Pub Date : 2021-11-14 Philip Chimobi Omoke, Emmanuel Uche
This study provides new insights on the dynamics of oil price shocks and purchasing power (PP) in the top six OPEC economies using the Quantile ARDL modelling technique. Notably, previous studies were largely silent about the impact of oil price periodic shocks on PP. To fill this gap, we used quarterly data of oil prices and PP from 1990Q1 to 2019Q4 drawn from relevant data hosts. Empirical evidence
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Assessment of environmental implications of energy consumption towards sustainable development in G7 countries OPEC Energy Review Pub Date : 2021-07-27 Bright Akwasi Gyamfi, Murad A. Bein, Festus Victor Bekun, Sarpong Steve Yaw, Xuan Vinh VO
Following universal debate for energy sources and sustainable development across the globe, with its far-reaching implications on the environment, this crusade aligns with the United Nations Sustainable Development Goals (UN-SDGs). The study variables are based on the SDGs-7, 8, and 13 that highlights access to clean energy, sustainable economic growth and mitigation of climate change issues. Awareness
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Methods and priorities for human resource planning in oil and gas projects in Russia and OPEC OPEC Energy Review Pub Date : 2021-08-06 Alexey Fadeev, Nadejda Komendantova, Alexey Cherepovitsyn, Anna Tsvetkova, Ivan Paramonov
The Organization of the Petroleum Exporting Countries and the Russian Federation are the key players in the global hydrocarbon market today. The successful hydrocarbon development is inextricably linked to the provision of highly qualified personnel for projects being implemented. To develop a universal methodology for planning the number of personnel of certain qualifications for the hydrocarbon deposit
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The role of income level and institutional quality in the non-renewable energy consumption and life expectancy nexus: evidence from selected oil-producing economies in Africa OPEC Energy Review Pub Date : 2021-06-30 Ridwan Lanre Ibrahim, Kazeem Bello Ajide
This study examines the functional relationship between non-renewable energy (NRE) and life expectancy in four selected oil-producing African countries (Algeria, Egypt, Libya and Nigeria) from 1990 to 2017. The role of income level and institutional quality (captured by control of corruption and regulatory quality) is evaluated to ascertaining the moderating or exacerbating effects of NRE (measured
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OPEC at 60: the world with and without OPEC OPEC Energy Review Pub Date : 2021-05-07 Andreas Economou, Bassam Fattouh
This paper provides a historical perspective from 1990 to 2018 of the functioning of the world oil market with and without OPEC. The analysis builds on a new methodology simulating counterfactual (i.e. what-if) outcomes in the rich context of state-of-the-art structural VAR models of the world oil market to empirically assess OPEC's contribution to oil markets and the global economy by quantifying