Munich Personal RePEc Archive

The Impact of Oil Prices on the Economic Growth and Development in the MENA countries

Moawad Ahmed, Sayed (2016): The Impact of Oil Prices on the Economic Growth and Development in the MENA countries.

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Abstract

Oil has a strategic nature and is an important commodity that affects the world economies. Both oil exporters and importers are likely to feel the effects of oil price developments. Oil prices dropped sharply since June 2014 bringing an end to a four –year period of relative price stability. The size and speed of decline has been significant but not unprecedented. Over last four decades, five episodes of price declines in excess of 30 percent were observed, coinciding with major changes in political scene in the Middle East; global economy and oil markets. Due to such sharp declines, the causes and consequences of and policy responses to the recent plunge in oil prices have led to intensive debates

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