Title: Impact of oil exports on growth of the economy of Oman

Authors: Areej Aftab Siddiqui; Ankit Abhishek

Addresses: Indian Institute of Foreign Trade, B-21, Qutab Institutional Area, New Delhi-110070, India ' Enhance Oman, W.J Towell Building, Azaiba, Muscat, Muscat Governorate, Sultanate of Oman

Abstract: International trade in crude oil and GDP are often used together in world trade and economy. Crude oil being the most essential commodity plays an important role in the economic development of countries, whether by exports or imports. This article aims to analyse the relationship between Oman's oil exports and its economic growth. The goal is to find out the effect of oil export on Oman's growth and diversification of the export basket. The technique applied is mainly the dynamic OLS model after checking the series for stationarity. The results indicate that oil exports play a significant role in the growth of Oman along with total exports, thus also indicating towards diversification of export basket of Oman.

Keywords: oil; Oman; GDP; export; dynamic OLS.

DOI: 10.1504/IJICBM.2020.108921

International Journal of Indian Culture and Business Management, 2020 Vol.20 No.4, pp.568 - 579

Received: 15 Apr 2019
Accepted: 18 Jun 2019
Published online: 07 Aug 2020 *

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