Middle East Economic Survey
VOL. XLVII
No 36
6-September-2004
OIL PRICES
High Oil Prices Not Affecting Industrial States Economic Growth, Says Alhajji
The following comment was written for MEES by A F Alhajji, Associate Professor, College of Business Administration, Ohio Northern University.a-alhajji@onu.edu
Conventional wisdom states that high oil prices slow economic growth, cause inflation, and increase unemployment. The US recessions of the 1970s, 1991, and 2001 were all associated with high...
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