[en] This paper examines the nonlinear or asymmetric relationship between oil revenues and output growth in oil-exporting countries, applying a dynamic panel framework and two different measures of oil shocks. The main results in this paper confirm the stylized facts that in heavily oil-dependent countries lacking the institutional mechanisms de-linking fiscal expenditure from current revenue, oil revenue shocks tend to affect the output in asymmetric and nonlinear ways. The findings suggest that output growth is adversely affected by the negative oil shocks, while oil booms or the positive oil shocks play a limited role in stimulating economic growth. The findings have practical policy implications for decision makers in the area of macroeconomic planning. The use of stabilization and savings funds and diversification of the real sector seems crucial to minimize the harmful effects of oil booms and busts. (author)

[en] This paper examines the causal relationship between the per capita energy consumption and the per capita GDP in a panel of 11 selected oil exporting countries by using panel unit-root tests and panel cointegration analysis. The results show a unidirectional strong causality from economic growth to energy consumption for the oil exporting countries. The findings have practical policy implications for decision makers in the area of macroeconomic planning. In most major oil exporting countries, government policies keep domestic prices bellow free market level, resulting in high levels of domestic energy consumption. The results imply that the energy conservation through reforming energy price policies has no damaging repercussions on economic growth for this group of countries. (author)

[en] While there is much evidence to support the resource curse hypothesis for resource-abundant countries, some studies have found that oil booms raise the economic growth of oil-exporting countries. This paper examines the issue of the existence of the threshold effects in the relationship between oil revenues and output growth in oil-exporting countries, applying panel regressions. The empirical results strongly suggest the existence of a threshold beyond which oil revenues growth exerts a negative effect on output. The results indicate that the threshold of growth rate of oil revenues above which oil revenues significantly slows growth is around 18-19% for oil-exporting countries. In contrast, linear estimation without any allowance for threshold effects would misleadingly imply that an increase in the oil revenues increase the economic growth rate. Failure to account for nonlinearities conceal the resource curse in these countries particularly during extreme oil booms as suggested in previous studies

[en] This paper examines the nonlinear or asymmetric relationship between oil revenues and output growth in oil-exporting countries, applying a dynamic panel framework and two different measures of oil shocks. The main results in this paper confirm the stylized facts that in heavily oil-dependent countries lacking the institutional mechanisms de-linking fiscal expenditure from current revenue, oil revenue shocks tend to affect the output in asymmetric and nonlinear ways. The findings suggest that output growth is adversely affected by the negative oil shocks, while oil booms or the positive oil shocks play a limited role in stimulating economic growth. The findings have practical policy implications for decision makers in the area of macroeconomic planning. The use of stabilization and savings funds and diversification of the real sector seems crucial to minimize the harmful effects of oil booms and busts

[en] This paper examines the causal relationship between the per capita energy consumption and the per capita GDP in a panel of 11 selected oil exporting countries by using panel unit-root tests and panel cointegration analysis. The results show a unidirectional strong causality from economic growth to energy consumption for the oil exporting countries. The findings have practical policy implications for decision makers in the area of macroeconomic planning. In most major oil exporting countries, government policies keep domestic prices bellow free market level, resulting in high levels of domestic energy consumption. The results imply that the energy conservation through reforming energy price policies has no damaging repercussions on economic growth for this group of countries

[en] Air pollution is one of the biggest global environmental problems in urban regions. This study aimed to investigate the validity of the relationship between air pollution and respiratory and cardiovascular hospitalization using time series methods. This time series study was conducted in Isfahan, Iran. We used data of hospitalized cases in three main university hospitals (Alzahra, Noor, Chamran) and air pollution data from 2014 to 2016. We applied the autoregressive distributed lag (ARDL) bounds testing approach of cointegration to examine the relationship between the air pollution and hospitalizations of respiratory and cardiovascular diseases. The results of air quality assessment on the number of respiratory and cardiovascular hospitalization demonstrate that in the case of cardiovascular disease, both in the long run and in the short run, the air quality index has a significant impact on men and women with a bigger impact in the long run compared to the short run. The value of the long-run coefficient indicates the relationship between air pollution index and cardiovascular hospitalization is stronger than respiratory hospitalizations. In the long term, the effect of the air quality index (AQI) on the number of hospitalizations is more than that in the short term. Based on the results, a 10-unit increase in AQI leads to 5.3% increase in the number of respiratory hospitalization. Accordingly, a 10-unit increase in AQI will result in 7.3% increase in the number of cardiovascular hospitalizations.