Economic research

    SELECT ANY THREE COUNTRIES FROM GCC AND ANSWER THE FOLLOWING QUESTIONS: Question 1: (10% of total marks) a. Specifically with respect to your selected countries, explain the role of oil prices, exchange rate, inflation, industrial production and interest rate in economic growth and development of a country. b. Using time series data from 2005 till 2017 for oil prices, exchange rate, inflation, industrial production, interest rate and GDP; answer the following questions: i. Investigate the impact of oil prices, exchange rate, inflation, industrial production and interest rate on GDP of the selected countries. ii. Since oil is one of major factor in GCC, therefore examine its impact on industrial production of the selected countries. c. Based on your results in part (b) above, discuss and justify the empirical findings. In your discussion, include relevant literature focusing on the same variables and relate them to your findings. Also rationalize your findings with respect to the countries under study. d. Based on your analysis in part (c ) above, identify the major economic issues related to each country, draw conclusion and provide recommendations to further enhance the economic growth and development of the selected countries.