The common oil shocks and growth in African net importers: new evidence from the Russia-Ukraine energy crisis era

This dataset supports research examining how oil price shocks affect economic growth in African net oil-importing countries. The central hypothesis posits that increases in real oil prices expressed in domestic currency to capture both international price movements and exchange rate transmission exert negative effects on real GDP per capita growth through multiple channels: supply-side cost increases, demand-side income transfers to oil exporters, exchange rate depreciation amplification, fiscal crowding-out via energy subsidies, and investment delays due to heightened uncertainty. We employ Cross-Sectionally Augmented Autoregressive Distributed Lag (CS-ARDL) methodology to account for common exposure to global oil price shocks and regional interdependencies while accommodating heterogeneous country-specific responses.