Esfahani, Hadi Salehi; Mohaddes, Kamiar; Pesaran, M. Hashem - 2012
This paper develops a long-run growth model for a major oil exporting economy and derives conditions under which oil … steadily over the past three decades, the theory suggests that the effect of oil income on the economy's steady state growth … income and foreign output in these economies. -- growth models ; long run and error correcting relations ; major oil …