Determinants of economic growth in OPEC: an extreme bounds analysis

Abstract

The aim of this study is to identify robust determinants of economic growth in Organization of Petroleum Exporting Countries (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 Levine and Renelt, while oil export is not robust. The results also support conditional‐convergence hypothesis.

Trade Openness, Institutions, and Inclusive Growth in Sub-Saharan Africa

“…Evidence abounds on trade openness and inclusive growth relationship but with conflicting results amidst divergent methodologies. Nowbutsing (2014) and Zarra-Nezhad et al (2014) offer support for the strand of literature that argues that trade positively affects inclusive growth. Trade has a favorable impact on the economy but growth itself reduces trade openness (Brueckner & Lederman, 2015).…”