Investigating the Asymmetric Effects of Oil Prices on Iran's Economic Growth (Explanatory Vector Auto- regression with Nonlinear Approach)

Oil as the main source of energy and engine of economic growth, is an essential input in the production process, that its consumption has increased significantly along with the modernization of the economy. The subject of the present study is the asymmetric analysis of oil price in Iran. In this regard, the effect of oil price on economic growth in two models, considering oil revenue and without it, has been estimated using the nonlinear autoregression distributed lag method (NARDL). The results of the study for the period 2018-2000 indicate that the effect of oil price on economic growth, containing oil revenue was asymmetric but without oil revenue was symmetric.