Usama Al-mulali

The interaction between tourism and FDI in real estate in OECD countries

The purpose of this article is to investigate the empirical link between foreign direct investment (FDI) in real estate sector (FDIRE) and international tourism (TOUR). Panel co-integration and panel Granger causality techniques are applied to analyse both long- and short-run relationships for the case study of selected OECD countries. Our empirical results show the existence of the long-run and a bi-directional causal relationship between FDIRE and TOUR. The results provide some implications for policy-makers.

The Impact of Oil Prices on the Real Exchange Rate of the Dirham: A Case Study of the United Arab Emirates (UAE)

This study investigated the impact of oil shocks on the real exchange rate of the United Arab Emirates (UAE) dirham. Time series data were used for the period 1977–2007. Through this study, it has been found that a fixed exchange rate to the US dollar is not an appropriate exchange rate regime for the UAE. This is because when the price of oil increases, and with a fixed exchange rate regime, this would lead to rapid growth in gross domestic product and liquidity in the UAE economy. This, in turn, causes domestic prices to increase, and results in high levels of inflation.

The Impact of Oil Shocks on China's GDP: A Time Series Analysis

This study examined the impact of oil shocks on Chinas gross domestic product (GDP) using the vector autoregressive model taking the period 1970 to 2009. The cointegration test results show that oil shocks have a negative impact on Chinas GDP. Moreover, the Granger causality test results show that oil prices have a negative causal relationship with Chinas GDP in the short run. The main recommendation of this study is that China has to increase the flexibility of its labour markets and reduce its oil consumption and its share in the industrial production. Furthermore, it has to adopt a policy that is based on a more flexible inflation targeting regime, and more effective monetary policy. All these policies might help cushion the impact of oil shocks on Chinas economy.

Oil Prices and the Real Exchange Rate in Oil‐Exporting Countries

This study investigated the impact of oil price shocks on the real exchange rate covering the most recent oil shock from 2000 to 2010 in 12 oil�?exporting countries, namely Algeria, Bahrain, Egypt, Indonesia, Kuwait, Nigeria, Oman, Qatar, Saudi Arabia, Sudan, United Arab Emirates and Venezuela. In this study, the panel model was implemented using six variables, namely the real exchange rate as the dependent variable, and oil price, government consumption expenditure, current account, inflation rate and gross domestic product based on the purchasing power parity as independent variables. The results we have arrived at show that the increases in oil prices have caused a real exchange rate appreciation in these countries.

Energy consumption, CO2 emissions, and development in the UAE

ABSTRACT This study investigated the impact of energy consumption and CO2 emissions on the United Arab Emirates (UAE)’s economic and financial development. The vector autoregressive (VAR) model was applied. The results obtained in the study show that energy consumption and CO2 emissions had a long-run relationship with the economic and financial development indicators in the UAE. It was also found that there was a significant causal relationship between energy consumption and CO2 emissions on both economic and financial development indicator variables. The UAE is well known for its high economic and financial development owing to the fact that this country has achieved a fast economic growth in the last three decades. However, it is important that this country needs to increase its consumption of green energy to reduce CO2 emissions.

The impact of coal consumption and CO2 emission on economic growth

ABSTRACT This study examined the long-run and the causal relationship between total coal consumption, CO2 emission, and GDP growth in China, the United States, India, Germany, Russia, South Africa, Japan, Australia, Poland, and South Korea. The panel model was employed during the period 1992–2009. The results showed that total coal consumption and CO2 emission have a long-run relationship with the GDP growth. In addition, there was a short-run positive bidirectional causal relationship between total coal consumption and CO2 emission. However, total coal consumption and CO2 emission have no short-run or long-run causal relationship with GDP growth. Thus energy conservation policies on total coal consumption such as rationing energy consumption and controlling CO2 emissions are likely to have no negative impact on the real output growth of the investigated countries.