Effects of political stability, oil prices and financial uncertainty on real economic growth of Guff cooperation council countries

This paper examines the effect of the political, oil prices, and financial uncertainty on the real economic growth of the gulf cooperation council (GCC) countries from 1980 until 2019 using the dynamic and fully modifies and the quantile panel regression. The empirical results provide the evidence that oil prices, political stability, and globalisation have a positive impact on the real economic growth of GCC countries. Moreover, the GCC countries have evident a significant improvement in globalisation, which is the results of positive impact of globalisation on GCC countries. The findings have a significant implication for expansion of economic performance by allocation of the government expenditure for equal distribution of wealth, increase foreign direct investment, encourage the manufacturing and industrial sectors to mitigate the risks of oil price plunge, resolve the political issues in the region, and liaison with Islamic states and rest of world to boost their economy.