Abstract
This study examines how negative oil shocks (due to the oil boycotts) could
affect the military expenditure and the quality of democracy in the oil rentier
states of Middle East by applying the annual date from 1990 to 2017. I use
both economic and political variables in a panel vector autoregressive (PVAR)
model of oil boycotts. The estimated PVAR models show significant impacts
of oil boycotts both on key economic factors (government revenues, defence
and non-defence expenditures) and on the different indicators of the political
system.
affect the military expenditure and the quality of democracy in the oil rentier
states of Middle East by applying the annual date from 1990 to 2017. I use
both economic and political variables in a panel vector autoregressive (PVAR)
model of oil boycotts. The estimated PVAR models show significant impacts
of oil boycotts both on key economic factors (government revenues, defence
and non-defence expenditures) and on the different indicators of the political
system.
| Original language | English |
|---|---|
| Place of Publication | Den Haag |
| Publisher | International Institute of Social Studies (ISS) |
| Number of pages | 34 |
| Publication status | Published - Apr 2019 |
Publication series
| Series | ISS working papers. General series |
|---|---|
| Number | 644 |
| ISSN | 0921-0210 |
Bibliographical note
JEL: F51, F13, F14This working paper has been provided as a part of the research project: Economic Sanctions and Conflict Resolution. This project has received research scholarship from Gerda Henkel Foundation under the special programme of Security, Society and the State.
Series
- ISS Working Paper-General Series