Macroeconomic Factors Affecting Petroleum Products Export: Evidence From The Frequentist and Bayesian Regression

Haris Noor; Aneesur Rahman; Dr. Sana Noor; Mohd Kadir Ansari; Mohd Fateh; Dr. Md. Firdos Ahmad; Mahazabi

doi:10.14419/f5vx8x77

Article Details

Macroeconomic Factors Affecting Petroleum Products Export: Evidence From The Frequentist and Bayesian Regression

Authors:

Haris Noor | Aneesur Rahman | Dr. Sana Noor | Mohd Kadir Ansari | Mohd Fateh | Dr. Md. Firdos Ahmad | Mahazabi

Publisher:

Science Publishing Corporation

Journal:

International Journal of Accounting and Economics Studies Vol.12 Issue 5, pp.248-263

Document Type:

Article

Publication Date:

6/2025

Document Language:

English

Document ID (Org No.):

2001386089

pISSN:

2309-4508

DOI:

10.14419/f5vx8x77

Keywords:

Abstract:

 This study delves into the intricacies of India's export of petroleum products within the dynamic landscape of the Gulf Cooperation Council (GCC) countries by utilizing extensive export data. Besides this, some critical macroeconomic variables affecting India’s export of petroleum products, namely OPEC oil prices and India's economic size, which is epitomized by gross domestic product, are analyzed. The empirical analysis time frame is from 2000 to 2023. To examine linkages between the variables with their coefficient signs, this study uses autoregressive distributed lag bound testing to obtain short and long-run estimates with an error correction model and ordinary least squares. Moreover, non-frequentist Bayesian linear regression is used for validity estimations. The findings reveal that both frequentist and non-frequentist approaches justify that the OPEC oil prices and India's GDP significantly affect India’s export of petroleum products to GCC countries. Lastly, diagnostic tests are applied to check stability and robustness in both frequentist and non-frequentist Bayesian regression.

Article Details

Macroeconomic Factors Affecting Petroleum Products Export: Evidence From The Frequentist and Bayesian Regression

Authors:

Haris Noor | Aneesur Rahman | Dr. Sana Noor | Mohd Kadir Ansari | Mohd Fateh | Dr. Md. Firdos Ahmad | Mahazabi

Publisher:

Science Publishing Corporation

Journal:

International Journal of Accounting and Economics Studies Vol.12 Issue 5, pp.248-263

Document Type:

Article

Publication Date:

6/2025

Document Language:

English

Document ID (Org No.):

2001386089

pISSN:

2309-4508

DOI:

10.14419/f5vx8x77

ARDL

Bayesian Regression

OPEC

OLS

Petroleum Products

Issues

Article Details

Macroeconomic Factors Affecting Petroleum Products Export: Evidence From The Frequentist and Bayesian Regression

Authors: Haris Noor | Aneesur Rahman | Dr. Sana Noor | Mohd Kadir Ansari | Mohd Fateh | Dr. Md. Firdos Ahmad | Mahazabi

Publisher: Science Publishing Corporation

Journal: International Journal of Accounting and Economics Studies Vol.12 Issue 5, pp.248-263

Document Type: Article

Publication Date: 6/2025

Document Language: English

Document ID (Org No.): 2001386089

pISSN: 2309-4508

DOI: 10.14419/f5vx8x77

ARDL

Bayesian Regression

OPEC

OLS

Petroleum Products

Issues

Authors:

Haris Noor | Aneesur Rahman | Dr. Sana Noor | Mohd Kadir Ansari | Mohd Fateh | Dr. Md. Firdos Ahmad | Mahazabi

Publisher:

Science Publishing Corporation

Journal:

International Journal of Accounting and Economics Studies Vol.12 Issue 5, pp.248-263

Document Type:

Article

Publication Date:

6/2025

Document Language:

English

Document ID (Org No.):

2001386089

pISSN:

2309-4508

DOI:

10.14419/f5vx8x77