Impact Of Hydrocarbon Fuels On The Economic Growth

Abstract

The Current study investigates the long run relationship between three hydrocarbon fuels petroleum oil, natural gas, coal and the economic growth from MENA countries (Iran, Egypt, Kuwait, Saudia Arabia and Oman) over the period of 1996-2019 by using Pooled OLS technique. Energy and its impact on economic growth is the most concerned subject among the researchers and policy makers. Results verify the existence of long run relationship between hydrocarbon fuels and GDP. Positive and significant coefficients of hydrocarbon indicators ensures that consumption of Petroleum Oil, Coal and Natural Gas increase economic growth of the countries.