Oil shocks and the Economic Growth: A Study for Oil-importing and Exporting Countries in the Time of Covid-19

This article discusses the effect of oil shock on some OECD oil-importing countries such as Canada, France, Italy, China, and United States OPEC oil-exporting Algeria, Iran, Kuwait, Saudi Arabia, Venezuela. The model is estimated for years 1976-2021. five annual variables are used each country. within include real prices, GDP growth, inflation, wages, effective exchange rates. Real main variable that shows effects prices economy, impact other will indirectly affect economic activities. For this purpose, we estimate vector autoregression model. Estimates obtained different show price shocks one affecting growth. Also, in countries, growth positive negative countries. Covid-19 studied an parameter creating shocks.