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The impact of oil imports on economic growth: Evidence from Uganda

The School of Economics as approached from the School of Business, College of Business and Management Sciences (CoBAMS), Makerere University, Kampala Uganda

Production processes for most goods and services of every country depend on energy with oil inclusive. However, for a country like Uganda with few alternative sources of energy, over dependency on oil imports is likely to increase the cost of production which may implicitly and adversely affect the country’s growth. Therefore, this study extends a theoretical framework developed by Solow (1957) to investigate the impact of oil imports on economic growth in Uganda. The study findings reveal that the effect of oil imports on economic growth as measured by GDP growth is positive and statistically significant.

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Source: School of Economics, College of Business and Management Sciences (CoBAMS)

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