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Oil Revenue and Kuwait's Economy: An Econometric Approach

Published online by Cambridge University Press:  29 January 2009

Mahmoud A. Kaboudan
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Extract

This paper presents a macroeconomic model for a small developing oil-exporting economy: Kuwait. The model is a simultaneous system of difference equations. Historic effects of changes in revenues from oil exports on the country's economic conditions are simulated. The model is then used to forecast these conditions through 1990, and to test two fiscal policy alternatives under the assumption that revenues from Kuwait's oil exports will remain constant from 1986 to 1990. The following are key words: developing economies; oil-exporting economies; Middle East economies; Kuwait; Kuwait's economy; policy models; macroeconomic models; econometric models; macroeconometric models; forecasting models; and policy models.

Type
Articles
Information
International Journal of Middle East Studies , Volume 20 , Issue 1 , February 1988 , pp. 45 - 66
Copyright
Copyright © Cambridge University Press 1988

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