This study employs the vector autoregressive model (VAR), impulse response function and variance decomposition to impact of oil price shocks on components government spending both oil-exporting importing countries over period from 1980 2018. While vast majority previous studies focused spending, this emphasized these current capital expenditure. It was found that affect expenditure positively i...

Oman is currently a particular “hot spot” for investment in a range of EOR techniques to produce heavy oil, but is much less visible in industry statistics than countries such as Canada and Venezuela. Other countries in the Middle East are encouraged by Oman’s success and, with the additional impetus of increasing oil prices, are becoming more active in heavy oil production. For example, Iran a...