NON-OIL EXPORT IN THE OIL ECONOMY: AN EMPIRICAL STUDY OF THE CHARAKTER AND FACTORS OF CROSS-COUNTRY DIFFERENTIATION
This paper investigates the level and key factors of non-oil exports in oil economies. We show that impact of the oil factor on non-oil export potential in long term is different by oil economies. In one group of the countries, oil acts as a hindrance to the formation and development of the potentia...
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| Formato: | article |
| Lenguaje: | DE EN FR TR |
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Fırat University
2019
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| Acceso en línea: | https://doaj.org/article/105608ea8a66455aa3ba66aa6fe8f993 |
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| Sumario: | This paper investigates the level and key factors of non-oil exports in oil economies. We show that impact of the oil factor on non-oil export potential in long term is different by oil economies. In one group of the countries, oil acts as a hindrance to the formation and development of the potential, while in others have a mild effect and, in thirdly, as an important boost factor. We disclose the conditions and the main factors of the formation of these moments. At that time, taking into account that the impact of the oil factor on the non-oil export through the change of the national currency rate has been adequately investigated in other studies, we have focused on other economic and institutional factors. The article outlines the characteristics of the transmission of the impact of oil revenues on non-oil export potential through changes in electricity consumption, energy subsidies, accumulation physical capital, education level, private sector lending, as well as changes in corruption and business environment. Here are our study provides also recommendations for policymakers on the development of non-oil export potential, depending on the level of oil revenues by country. |
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