Abstract
This study analyzes empirically the impact of rising income levels on the economic structure of several oil producing and exporting countries during the 1970s and early 1980s. The results indicate that the agricultural sector showed declining rates of growth, and negative growth elasticities were indicated by nine of the ten countries included in this study. On the other hand, the industrial sector in all countries showed positive growth to varying degrees. However, this growth may be more policy-induced than real growth. Disparity and inequality ratios were highest in Middle East and North African countries.
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Khalil, M., Mansour, A.H. Development patterns of oil exporting countries. J Econ Finan 17, 43–49 (1993). https://doi.org/10.1007/BF02920637
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DOI: https://doi.org/10.1007/BF02920637