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Analysis of the relationship between crude oil price fluctuations Government spending in Iraq for the period 2004-2014 | ||
| Iraqi Journal For Economic Sciences | ||
| Article 1, Volume 0, Issue 52, 2017, Pages 60-86 | ||
| Authors | ||
| Omar Mahmoud Akkawi; Ahmed Saleh Hassan Kazem | ||
| Abstract | ||
| This study aims to analyze the correlation between the prices of raw oil and the governmental expenses in Iraq. It adopted the analytical and statistic approaches, which involves a econometric manner to estimate the correlation between the prices of raw oil and the governmental expenses, and test the nature and direction their correlation, depending on annual data of the period (2004-2014). One of the most important results arrived at by this study is that the temporal series of the study variables include a unit root, which is instable on the general level. It became so after taking the first difference of the series natural logarithm. Johnson's method indicates that there is a long - term correlation between the instability of raw oil prices and the governmental expenses, i.e., there is no much distance between the two variables of the time series, and they have the same behavior. Also, the results of the causality test showed that there is one - direction cause relation from the prices of raw oil to the governmental expenses. This refers that there is positive relationship between them, i.e., if the prices increase, the governmental expenses will increases and vice versa | ||
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