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AuthorKaitibie, Simeon
AuthorAl Jaidah, Muneera Ibrahim
AuthorHaq, Munshi Masudul
Available date2021-09-05T05:40:13Z
Publication Date2016
Publication NameInternational Journal of Economic Perspectives
ResourceScopus
ISSN13071637
URIhttp://hdl.handle.net/10576/22687
URIhttps://www.proquest.com/docview/1854232223/fulltext/9B72BE19B73948DAPQ/1?accountid=13370
AbstractThough small in area and population, the US$ 200 billion Qatari economy is open and driven by the oil and gas sector. Therefore the economy is susceptible to economic shocks in international markets. We illustrate the extent of export market concentration for oil and gas exports, identify the determinants of export trade, and evaluate the potential for exports to new markets as a risk mitigation strategy. We used cross-sectional time series data from 2004 to 2013 to develop a measure of export market concentration, and we estimated the determinants of trade using a gravity model. Results show moderate concentration in the gas sector, but extreme concentration in the crude sector. Standard determinants of trade including distance between trading partners, demand drivers like income and population, exchange rates, and perceived corruption in export markets were statistically significant. The inextricable link between the economies of Qatar and the main trading partners Japan, China and India will give rise to negative economic consequences in Qatar in the event of economic turmoil in the large Asian economies. Consequently, Qatar should diversify the export market for oil and gas. Potential markets to enable export market diversification include Czech Republic, Slovakia, Hungary, Luxembourg and Denmark. International Economic Society.
Languageen
PublisherInternational Economic Society
SubjectExport market concentration
Gas
Gravity model
Herfindahl-Hirschman index
Oil
Qatar
TitleExport market concentration and the potential for export market diversification in the oil and gas sector in a small open economy
TypeArticle
Pagination71-85
Issue Number1
Volume Number10
dc.accessType Abstract Only


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