1Research Scholar, Department of West Asian and North African Studies, Aligarh Muslim University, Aligarh-202002 (Uttar Pradesh)
2Research Scholar, Department of Commerce, Aligarh Muslim University, Aligarh-202002 (Uttar Pradesh)
*Corresponding author's email: malikmushtaq10@gmail.com
JEL Codes: Q02, O40, O53
This paper investigates whether changes in oil prices could explain cross-country variations in economic growth. The sample included WANAcountries, China and India. The findings indicated bidirectional oil price-economy causality in the WANAregion's oil-exporting countries. In addition, a unidirectional causality running from changing oil prices to growth was found in the WANA region. However, there was no clear oil price-economy causal relationship for non-oil WANAcountries, China and India. The study recommended diversification and fuel pricing reforms to create a robust fiscal balanced and sustained economic growth.
Economic growth, oil exporters, oil importers
