Spatial analysis of oil revenues on the economic growth of selected oil exporting countries

Oil has a special strategic position as an essential substance in oil-exporting countries. Fluctuations in oil prices and revenues Are the main sources of turmoil in the economies of oil-dependent countries and have affected the economies of oil-exporting countries, disrupting the performance of macroeconomic variables and economic growth. Therefore, the purpose of this study is the spatial analysis of oil revenues on the economic growth of selected oil exporting countries during the period 2008-2019. Before estimating the spatial pattern, the effects of spatial spillover were confirmed for the space Durbin model using Moran, Jerry C, Jetis and Akaik statistical diagnostic dependence tests. The results of this study in the framework of combined spatial data and based on space Durbin estimates showed that oil revenues and the effects of its proximity have negative effects on the economic growth of oil-exporting countries. Among other research results, population and inflation rates had a negative effect on economic growth in these countries, while foreign direct investment variable had a positive effect on economic growth. Based on the research results, it is suggested to achieve high and stable economic growth rate, adopt policies to reduce the economy's dependence on oil revenues, reduce government spending had.