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Information Journal Paper

Title

A TEST FOR GROWTH STABILITY IN NON-RENEWABLE RESOURCES, THE CASE OF OPEC

Pages

  149-167

Abstract

 The increased growth of oil consumption, particularly in developing countries, has turned oil into a strategic commodity in the world. Therefore, identifying factors affecting supply and demand in oil market and the study of price changes are of a great importance. In this article, we have reconsidered the HOTELLING model for optimal extraction of non-renewal recourses with regard to the resource effects and technological advances. The cost and demand functions for NON-RENEWABLE RESOURCES are set up in a way to find a stable growth in a system of simultaneous equations of supply and demand. We have utilized data from OPEC in the period 1980- 2006 to test the model and the functions of supply and demand in a system of simultaneous equations using a 3SLS method. The estimation results indicate that the growth rate of the oil price has remained unchangned over rather a long period of time, which is consistent with the theoretical outcomes predicted by the model.

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    Cite

    APA: Copy

    EMAMI MEIBODI, ALI, HAGHDOOST, EHSAN, & PAKDIN, JAVAD. (2010). A TEST FOR GROWTH STABILITY IN NON-RENEWABLE RESOURCES, THE CASE OF OPEC. IRANIAN ECONOMIC RESEARCH, 14(42), 149-167. SID. https://sid.ir/paper/2722/en

    Vancouver: Copy

    EMAMI MEIBODI ALI, HAGHDOOST EHSAN, PAKDIN JAVAD. A TEST FOR GROWTH STABILITY IN NON-RENEWABLE RESOURCES, THE CASE OF OPEC. IRANIAN ECONOMIC RESEARCH[Internet]. 2010;14(42):149-167. Available from: https://sid.ir/paper/2722/en

    IEEE: Copy

    ALI EMAMI MEIBODI, EHSAN HAGHDOOST, and JAVAD PAKDIN, “A TEST FOR GROWTH STABILITY IN NON-RENEWABLE RESOURCES, THE CASE OF OPEC,” IRANIAN ECONOMIC RESEARCH, vol. 14, no. 42, pp. 149–167, 2010, [Online]. Available: https://sid.ir/paper/2722/en

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