The Role of Energy Supply in Economic Growth: Evidence from the Oil Importing Countries

Authors

  • Ghazi A. Samawi German Jordanian University
  • Metri F. Mdanat
  • Talah S. Arabiyat

Abstract

The main purpose of this study is to explore and analyse relationships between energy supply and economic growth. Path analysis and structural equation modelling have been used to analyse the direct and indirect effects of energy supply on economic growth by identifying the form of the relationships between them and the role of mediating variables. Energy supply was found to be strongly correlated with economic growth and to have a number of other relationships and effects on the economy. It was also found that mediating variables had different relationships and effects on the economy based on the source of energy. This result confirms that changes in energy suppliers seem to reflect changes in the political ‎economy of the country rather than shifts in energy use. The influence of the ‎political economy and the preferential treatment of supplying energy to oil importing countries below ‎market price were found to have mixed effects on economic growth for both trade and budget path models.‎

Keywords: Energy supply, Economic growth, Structural equation, Path analysis. ‎

JEL Classifications: Q41, O4, Q43, C32. ‎

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Author Biography

Ghazi A. Samawi, German Jordanian University

 Dr. Ghazi A Samawi, PhD, MBA & BA, graduated for the UK, Majoring in International Business, I made sure to solidify the knowledge I have through worldwide lectures, trainings and consultations. Having started an early career in academics Organizational Learning Center, I have been teaching at several renowned institutions such as the German Jordanian University and Talal Abu Ghazaleh College of Business; two of the most prestigious business schools in Jordan. During this time, I have held a few major administrative roles as well – Head of Management Sciences department, Vice Dean of the School of Management and Logistic Sciences, and the Industrial links Coordinator and Training Officer for bridging the gap between academia and industry.

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Published

2017-12-06

How to Cite

Samawi, G. A., Mdanat, M. F., & Arabiyat, T. S. (2017). The Role of Energy Supply in Economic Growth: Evidence from the Oil Importing Countries. International Journal of Energy Economics and Policy, 7(6), 193–200. Retrieved from https://www.econjournals.com/index.php/ijeep/article/view/5357

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