Explaining the GDP trend of oil‐exporting countries during COVID‐19 period: The role of governance, adaptive stringency and fiscal policy

Abstract

This paper brings to light the factors that played major role in explaining the trend of the economic growth of a number of oil‐exporting countries during the pandemic period, specifically, during the years 2020–2021 and 2022. The results show that the institutional factors, adaptive restrictions as well as the degree of trade openness and the size of government fiscal intervention were major determinants of the trend of the GDP of the countries in question. Based on the findings, the paper recommends some policy measures and highlights important future challenges that test efforts of globalization.