| المستخلص: |
Economic diversification policy aims to sustain economic development; Therefore, this study aimed to study the effect of oil prices on the relationship between economic diversification and economic growth in the oil-producing Arab countries (members of OAPEC). To achieve the study’s aim, data was used for a time series spanning twentythree years from 1996-2018. Economic diversification was measured through the Diversification Index, and the economic growth variable was measured through growth in GDP. Then the study framed the relationship between these variables in the context of oil price. Finally, control variables were added to the model (oil characteristics, economic characteristics, political characteristics, and achieving the SDGs). Before going to draw conclusions; The study tested the validity of its proposed model through a number of advanced statistical tests, which indicated the validity of the model in some aspects and suggested modifying it in other aspects. To give the best indicative results of the supposed relationship between economic diversification and economic growth on the one hand and the moderating role of oil prices on this relationship on the other hand. The study reached number of descriptive and empirical results. The results indicated that there is a good percentage of economic diversification in OAPEC members, however a low percentage in economic growth. The results also showed that there is an effect of oil prices on the relationship between economic diversification and economic growth in Tunisia only. These results explain that oil prices do not affect the relationship between economic diversification and growth in countries that have sovereign wealth funds. As for countries that do not have sovereign wealth funds (Tunisia), oil prices have a negative impact on the relationship between economic diversification and growth. Then the study recommended that oil countries that do not have sovereign wealth funds to work to establish sovereign wealth funds funded from oil in order to avoid the impact of oil prices on the relationship between economic diversification and growth.
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