Document Type : Research Paper
Abstract
The aim of this study was investigating of the impact of oil revenues on institutions in oil exporting countries. Using the PVAR methodology and data of 18 countries from 1996 to 2012, the studying model contains four variables of economic growth, inflation, economic freedom, and oil revenues, were estimated. The Granger causality test results show that, oil revenues is Granger causality of economic freedom. Also the stability condition test showed that the model is stable. Finally, using the impulse response functions, the impact of oil revenues was examined on economic freedom (as well as other variables of the model). The results indicated that oil revenues in oil-exporting countries reduce the quality of institutions in these countries, which can have negative effects on economic growth.
Keywords
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