The Linkage between the Oil and Non-oil Sectors PDF Download
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Author: Nir Klein
Publisher: International Monetary Fund
ISBN: 1455200778
Category : Business & Economics
Languages : en
Pages : 27
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Book Description
Recent empirical studies have shown an inverse relation between natural resource intensity and long-term growth, implying that the natural resources generally impede economic growth through various channels (the “natural resource curse”). This paper departs from these studies by exploring the intersectoral linkages between oil and non-oil sectors in a cross-country perspective. The paper shows that the applicability of “natural resource curse” across oilbased economies should be treated with caution as the externalities of the oil sector highly depend on the countries’ degree of oil-intensity. In particular, the results show that, in low oil-intensity economies, the incentives to strengthen both fiscal and private sector institutions lead to positive inter-sectoral externalities. In contrast, weaker incentives in high oil-intensity economies adversely affect fiscal and private sector institutions and consequently lead to negative inter-sectoral externalities.
Author: Nir Klein
Publisher: International Monetary Fund
ISBN: 1455200778
Category : Business & Economics
Languages : en
Pages : 27
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Book Description
Recent empirical studies have shown an inverse relation between natural resource intensity and long-term growth, implying that the natural resources generally impede economic growth through various channels (the “natural resource curse”). This paper departs from these studies by exploring the intersectoral linkages between oil and non-oil sectors in a cross-country perspective. The paper shows that the applicability of “natural resource curse” across oilbased economies should be treated with caution as the externalities of the oil sector highly depend on the countries’ degree of oil-intensity. In particular, the results show that, in low oil-intensity economies, the incentives to strengthen both fiscal and private sector institutions lead to positive inter-sectoral externalities. In contrast, weaker incentives in high oil-intensity economies adversely affect fiscal and private sector institutions and consequently lead to negative inter-sectoral externalities.
Author: Fahad Saad Aldoasary
Publisher:
ISBN:
Category : Oil industries
Languages : en
Pages : 428
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Book Description
Author: Mr.Aasim M. Husain
Publisher: International Monetary Fund
ISBN: 151357227X
Category : Business & Economics
Languages : en
Pages : 41
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Book Description
The sharp drop in oil prices is one of the most important global economic developments over the past year. The SDN finds that (i) supply factors have played a somewhat larger role than demand factors in driving the oil price drop, (ii) a substantial part of the price decline is expected to persist into the medium term, although there is large uncertainty, (iii) lower oil prices will support global growth, (iv) the sharp oil price drop could still trigger financial strains, and (v) policy responses should depend on the terms-of-trade impact, fiscal and external vulnerabilities, and domestic cyclical position.
Author: Ulrich Klueh
Publisher:
ISBN:
Category : Industrial policy
Languages : en
Pages : 56
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Book Description
This paper attempts to offer specific inputs to the debate on local content promotion in the oil industry, using the specific case of São Tomé and Príncipe as point of reference. Our approach emphasizes inter-sectoral linkages and institutional pre-conditions for local content promotion. Based on an Input-Output description of the economy, we quantify the consistency between the prospective oil sector development and the growth of other sectors of the economy. We also assess a number of sectoral policies and "niche" activities within the oil industry that would maximize the local benefits from oil exploration
Author: Asian Development Bank
Publisher: Asian Development Bank
ISBN: 9292570072
Category : Business & Economics
Languages : en
Pages : 198
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Book Description
This report investigates Timor-Leste's potential to develop a vibrant, stable, and diversified economy that is not dependent on oil revenues. Implementing challenging reforms across the private sector, banking and finance, agriculture, infrastructure, and judiciary requires sound policies and effective legislation. The Government of Timor-Leste shows promising reform appetite and willingness to engage the private sector in developing alternate investment options to attract business to the country. Yet, significant challenges remain to ensure that rebuilding efforts and institutions are managed effectively to benefit all Timor-Leste's citizens. This report was produced by the Pacific Private Sector Development Initiative, a regional technical assistance facility cofinanced by the Asian Development Bank (ADB), the Government of Australia, and the New Zealand Government.
Author: James Leekaaga Fiiwe
Publisher:
ISBN:
Category :
Languages : en
Pages : 20
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Book Description
Oil export and nonoil export have remained sources of revenue for Nigeria over the years, however the over dependence on oil sector and neglect of the nonoil sector has raised issues on which export sector impacts more on the Nigeria economy. This study therefore carried out comparative analysis on the role crude oil export and nonoil export in relations to Nigeria's economic growth. Data were collected from CBN statistical bulletin from 1980-2015. OLS, Augmented dickey fuller, co-integration and error correction model were used to analyze the data. Findings suggest that both oil export sector and nonoil export sector have positive impact on GDP. The ADF showed that all the variables are stationary at first order of difference while the co-integration shows that two cointegrating variables. The error correction model indicates that oil export sector and nonoil export sector have long run relationship with Nigeria's GDP. It concludes that nonoil export has greater impact on the economy than the oil export sector for the period under review. Based on the findings, it is recommended that the government should implement export diversification policies. Non-oil sector exports should be encouraged. The development of the nonoil export sector will further improve the volume of exports and balance of trade in Nigeria.
Author: Arnim Langer
Publisher: Leuven University Press
ISBN: 9462702004
Category : Social Science
Languages : en
Pages : 396
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Book Description
Multidisciplinary perspectives to governance of oil in African countries Large quantities of oil were discovered in the Albertine Rift Valley in Western Uganda in 2006. The sound management of these oil resources and revenues is undoubtedly one of the key public policy challenges for Uganda as it is for other African countries with large oil and/or gas endowments. With oil expected to start flowing in 2021, the current book analyses how this East African country is preparing for the challenge of effectively, efficiently, and transparently managing its oil sector and resources. Adopting a multidisciplinary, comprehensive, and comparative approach, the book identifies a broad scope of issues that need to be addressed in order for Uganda to realise the full potential of its oil wealth for national economic transformation. Predominantly grounded in local scholarship and including chapters drawing on the experiences of Nigeria, Ghana, and Kenya, the book blazes a trail on governance of African oil in an era of emerging producers. Oil Wealth and Development in Uganda and Beyond will be of great interest to social scientists and economic and social policy makers in oil-producing countries. It is suitable for course adoption across such disciplines as International/Global Affairs, Political Economy, Geography, Environmental Studies, Economics, Energy Studies, Development, Politics, Peace, Security and African Studies. Contributors: Badru Bukenya (Makerere University), Moses Isabirye (Busitema University), Wilson Bahati Kazi (Uganda Revenue Authority), Corti Paul Lakuma (Economic Policy Research Centre), Joseph Mawejje (Economic Policy Research Centre), Pamela Mbabazi (Uganda National Planning Authority), Martin Muhangi (independent researcher), Roberts Muriisa (Mbarara University of Science and Technology), Chris Byaruhanga Musiime (independent researcher), Germano Mwabu (University of Nairobi), Jackson A. Mwakali (Makerere University), Tom Owang (Mbarara University of Science and Technology), Joseph Oloka-Onyango (Makerere University), Peter Quartey (University of Ghana), Peter Wandera (Transparency International Uganda), Kathleen Brophy (Transparency International Uganda), Jaqueline Nakaiza (independent researcher), Babra Beyeza (independent researcher), Jackson Byaruhanga (Bank of Uganda), Emmanuel Abbey (University of Ghana).
Author: Guillermo José Aboumrad
Publisher:
ISBN:
Category : Mexico
Languages : en
Pages : 138
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Book Description
Author: Mr.Rabah Arezki
Publisher: International Monetary Fund
ISBN: 1475572360
Category : Business & Economics
Languages : en
Pages : 30
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Book Description
This paper presents a simple macroeconomic model of the oil market. The model incorporates features of oil supply such as depletion, endogenous oil exploration and extraction, as well as features of oil demand such as the secular increase in demand from emerging-market economies, usage efficiency, and endogenous demand responses. The model provides, inter alia, a useful analytical framework to explore the effects of: a change in world GDP growth; a change in the efficiency of oil usage; and a change in the supply of oil. Notwithstanding that shale oil production today is more responsive to prices than conventional oil, our analysis suggests that an era of prolonged low oil prices is likely to be followed by a period where oil prices overshoot their long-term upward trend.
Author: Musa Jega Ibrahim
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Technological progress is the driving force of economic growth. The neoclassical growth models postulate that technological progress is derived from exogenous impact of production relationship while the endogenous growth models ascribe the source of technological progress to the ability of factors of production to respond to externalities generated by production activities in accordance with "learning-by-doing" complemented by R&D. This implies a convergence on the crucial relevance of technology in enhancing the effectiveness and value-adding functions of factors of production as the bedrock of economic growth. It follows intuitively that inter-industry linkage process, which involves multisectoral input-output interdependence of productive activities of different sectors of the economy, is germane to the value-adding capabilities of factors of production that propels economic growth. As a key sector with intrinsic versatility, the oil and gas industry in Nigeria has enormous linkage potentials that can be a cylinder for robust inter-industry linkage processes for sustainable growth of the Nigerian economy. Various linkage measures; backward and forward linkages, output multipliers; employment, income and value-added effects and multipliers for sectors of the Nigerian economy are computed and analysed with focus on the linkage significance of the oil and gas industry. It reveals that a formidable inter-industry linkage processes is not emerging with relative low level of integration of the oil and gas industry with other sectors of the economy. Hypothetical Extraction scenario indicates that the stimuli from the oil and gas industry are not inspiring. By policy simulation, it is discovered that the inter-industry linkage process cannot be significantly improved by more refining activities, suggesting the existence of low levels of absorptive capacities of the sectors of the economy arising from structural distortions and technological weakness. By implication, the effectiveness of factors of production, the critical requirement of economic growth, is hampered, compounded by the absence of system of innovation that could inspire the emergence of technological capabilities. Investments in social and economic services as well as physical infrastructures that leads to a bourgeoning income earning household sector that seeks to satisfy its consumption needs and create effective markets that facilitates inter-industry linkages is the veritable route towards innovation, endogenous technology and sustainable growth.
