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Relationship Between Economic Growth and Oil Production in Emerging Countries for the Period 2020-2050

*Corresponding author for this work
Research Output:
Chapter in Book/Report/Conference proceeding
Chapter

Publication Information

Output type

Research Output:
Chapter in Book/Report/Conference proceeding
Chapter

Original language

English

Pages from-to (Number of pages)

Pages 131-144 (14 pages)

Publication milestones

  • Published - 2022

Publication status

Published - 2022

Publisher

Springer Nature

ISBN (Print)

9789811946943

ISBN (Electronic)

9789811946950

Publication IDs

  • Scopus: 85169390679

Host publication title

Data Analytics Applications in Emerging Markets

Abstract

An algorithm of dynamic programming in Montecarlo simulation is devel-oped to analyze the international oil market towards the year 2050. The leading oil exporters are considered, and it is found that the positive relationship between economic growth and oil production will go decreasing. The model suggests that the combination of renewable energies, oil, natural gas, and others will be the variable that will influence economic growth, where oil will no longer be the main actor.

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0.68