This paper studies Venezuelan economic performance from 1950 to 1998. We show that there exist wide divergences in many commonly used estimates of GDP growth and discuss the sources of those differences. We show that the choice of base year and linking techniques are crucial for the diagnosis of economic growth, and argue that the aggregate GDP and TFP growth numbers are distorted by cuts in oi...

Crude oil is a highly strategic commodity. This paper investigates the necessity of using interval data and interval econometric models for crude oil price forecasting. Compared to the traditional point-valued data, interval-valued data in a time period contain much more valuable information which is useful for market participant to make decisions. We develop three autoregressive conditional in...

In the winter of 1973, some major oil exporting countries joined together to declare an embargo on oil exports to some of the western countries for political reasons. Elated by their success and the realization that they controlled a major share of the oil exports, they subsequently raised the price of oil four-fold and cut back production, thereby obtaining, in the face of an almost inelastic ...

This article aims to substantiate the factors by which oil industry influences sustainable development of OPEC++-participating countries under conditions uncertainty. The impact price parameters world market and tools its regulation on sustainability was assessed using panel regression analysis. level analyzed integrated estimation method, focusing crude functioning features. Undoubtedly, we ca...

In the initial models of economic growth, economic factors entered in to models but in the following models, non-economic factors entered in to models. Many broad studies were done on this subject by the economists, and already considerable results were obtained. Subjects such as corruption in the administrative bodies were new variables entering the literature of economic growth at that stage....

The restorative potential of green outdoor environments for children in preschool settings was investigated by measuring the attention of children playing in settings with different environmental features. Eleven preschools with outdoor environments typical for the Stockholm area were assessed using the outdoor play environment categories (OPEC) and the fraction of visible sky from play structu...