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Modeling the impact of the oil sector on the economy of sultanate of Oman

Al-Mawali, N and Hasim, HM and Al-Busaidi, K (2016) 'Modeling the impact of the oil sector on the economy of sultanate of Oman.' International Journal of Energy Economics and Policy, 6 (1). 120 - 127. ISSN 2146-4553

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Abstract

© 2016, Econjournals. All right reserved. This study constructs and analyses a simple macroeconomic model that specifically tailored to model the impact of oil sector on the economy of Sultanate of Oman. The constructed model of the study measures the impact of oil sector on the Oman economy for the last three decades and also provides some forecasting for the major macroeconomics indicators related to the Oman economy. Model simulations indicate that the oil sector has large and positive impact on Oman gross domestic product and its influence spills over to all other non-oil sectors of Oman economy. The study found that largest influence of oil was on the gas sector and the least economic sector influenced by oil was agricultural sector. The findings of the study suggest that Oman economy is far from being diversified and that the proposed model helps the policy makers in Oman to identify and forecast the impact of oil on other components of the Oman economy.

Item Type: Article
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Science and Health > Mathematical Sciences, Department of
Depositing User: Jim Jamieson
Date Deposited: 22 Nov 2016 13:37
Last Modified: 30 Jan 2019 16:23
URI: http://repository.essex.ac.uk/id/eprint/18203

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