Determinanty ekonomického růstu vybraných zemí těžících ropu

Abstract

The diploma thesis deals with the analysis of the determinants of economic growth of the Organization of the Petroleum Exporting Countries (OPEC). The work aims to perform an econometric analysis examining the relationship between GDP growth and selected determinants. The main method chosen is panel regression. First, it deals with the theoretical basis of economic growth, economic development, determinants of economic growth, and a literature search. The literature search contains determinants of economic growth of developed countries and determinants of economic growth of developing countries. It also presents a descriptive analysis of a selected group of oil-producing countries. It contains information about the organization itself and its brief history. All Member States are also presented here, including their important information. The following is an econometric analysis. It presents the theory of econometric analysis and its procedure. This part also contains an econometric analysis, which determines the determinants that have a positive, negative, or no effect on GDP development. Based on the performed econometric analysis, the value of oil exports, average daily oil production, and oil prices on GDP have a positive effect. On the contrary, the exchange rate and unemployment have a negative effect. World oil demand, inflation, and population growth do not affect GDP growth. Finally, a discussion of the results and recommendations is given. It presents the results of econometric analysis, verification of hypotheses, possible recommendations to support economic growth, and export issues.