The Asymmetric Effect of Oil Price Shocks on Economic Growth and Real Exchange Rate in Saudi Arabia

被引：3

作者：

Ben Dhiab, Lassad ^{[1
]}

Chebbi, Taha ^{[2
]}

Alimi, Nabil ^{[3
]}

机构：

[1] Northern Border Univ, Coll Business Adm, Dept Finance, Ar Ar 91431, Saudi Arabia

[2] Northern Border Univ, Coll Business Adm, Dept Mkt, Ar Ar, Saudi Arabia

[3] Univ Tunis El Manar, Fac Econ & Management Tunis, Dept Econ, Tunis, Tunisia

来源：

JOURNAL OF ASIAN FINANCE ECONOMICS AND BUSINESS | 2021年 / 8卷 / 12期

关键词：

Oil Price; Economic Growth; Exchange Rate; Nonlinear ARDL; Saudi Arabia; STOCK MARKETS; CHINA; INVESTMENT; ARDL;

D O I：

10.13106/jafeb.2021.vol8.no12.0295

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The aim of this study is to analyze the effects of oil prices on economic growth and exchange rate in Saudi Arabia during the period 1980-2020. For this purpose, the linear and nonlinear ARDL models are estimated. The linear ARDL model shows that the oil price and economic growth are cointegrated. Moreover, the two variables have a significant positive association in the long run. However, the oil price has no significant impact on the exchange rate. When estimating the nonlinear ARDL model, it has been shown that oil price is only cointegrated with economic growth but not with the exchange rate. The estimation of nonlinear effects using the nonlinear ARDL model shows that economic growth is affected by both positive and negative oil shocks in the long run. However, the impact of positive shocks is higher than those of negative shocks. Moreover, results show that the short- run effects of positive and negative oil shocks are not statistically significant. Regarding the exchange rate, our results show that the effects of positive and negative oil shocks are not statistically significant. Consequently, this study concludes that the oil price has an asymmetric effect on economic growth in Saudi Arabia, but not on the exchange rate.

引用

页码：295 / 303

页数：9

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