Growth literature indicates that human capital, education and technological progress are effective factors on economic growth. Empirical studies present that natural resource abundance have an important role on economic growth in natural-resource rich COUNTRIES. This study essay investigates the relationship between natural resource abundance, human capital and economic growth in two cases of PETROLEUM exporters' COUNTRIES: A) Major PETROLEUM exporters1 B) Other PETROLEUM exporters.We use a panel data for the period 1970-2004. The results indicate that physical investment and openness have positive impact on economic growth, and resource abundant and government expenditure ae inversely related with economic growth.Human capital has a different impact in the two cases It has a negative impact on economic growth in the first case, but a positive impact in the second case We can conclude that human capital can be main factor to explain slow growth in resource rich COUNTRIES. COUNTRIES that are rich in mineral and oil resources neglect the developing of their human resources by devoting inadequate attention and expenditure to education. So these COUNTRIES have lower growth rate with respect to others.

Empirical studies imply that natural resource abundance plays an important role on economic growth in natural-resource-rich COUNTRIES. The growth literature shows that human capital, education, technology progress and institutional quality are effective factors on economic growth. This article using a panel data firstly investigates the Resource Curse Hypothesis and then analyzes the effective factors and how they affect RCH. Among several effective factors that are reported in present studies, in this paper the main focus is on Human Capital and Institutional Quality. The sample for this research is two groups of PETROLEUM EXPORTING COUNTRIES: A) Major PETROLEUM exporters and B) Other PETROLEUM exporters which are analyzed for the period 1996-2006. Results show that Resource Curse is seen in major PETROLEUM EXPORTING COUNTRIES. The findings also confirm the importance of low institutional quality and inadequate investments in human capital in case of resource curse. The results confirm that natural resource abundance has a negative impact on growth if considered in isolation, but a positive direct impact on growth if other explanatory variables, such as human capital, institutional quality, openness and etc. are taken into account.

The oil price fluctuations are a debatable issue among scholars. Understanding the appropriate utilization of underground resources is paramount, considering their abundance and historical significance as a crucial source of financial income for Iran. However, oil shocks pose challenges to PETROLEUM EXPORTING nations due to fluctuating oil prices and their reliance on the global economy. This study employs Econometrics models and auto-regression analysis to investigate whether oil shocks significantly affect sustainable development in OPEC COUNTRIES during 2000-2019. Findings reveal a 'resource curse' affecting the analyzed nations, with rising oil prices having no substantial impact on their gross domestic product. Furthermore, increased oil revenues drive inflation, impeding urbanization and exacerbating inequality (Gini coefficient), indicative of the 'Dutch disease phenomenon. In conclusion, policymakers should prioritize the economy's size and reduce investment risks by formulating attainable long-term plans concentrated on sustainable development indicators, aiming for more stable progress. Oil shocks notably influence the sustainable development of PETROLEUM-EXPORTING COUNTRIES.

According to new growth theories, the role of highly skilled and elite workforce is very decisive in creating knowledge spillovers and economic growth. In addition to economic growth, achieving greater competitiveness in international markets also requires the use and increase of human capital. The migration of elites is one of the challenges that many COUNTRIES have been facing for a long time and it is mentioned as one of the traumatic issues in the COUNTRIES. With the departure of the elites from the developing COUNTRIES, the scientific production capacity and the economic base of the immigrant-first COUNTRIES are weakened and the competitive advantages of these COUNTRIES are reduced. Developed COUNTRIES such as the United States of America, despite their huge capital and high technical knowledge, attract elites and use them favorably in improving their technology. Therefore, in order to eliminate the technological gap between themselves and developed COUNTRIES, developing COUNTRIES and especially COUNTRIES that are faced with an abundance of natural resources must provide the conditions for the effective activity of elites by eliminating the repulsive factors inside the country. Many models tried to be able to identify the factors affecting the migration of elites and to explain the effect of these components. In the meantime, considering that the elites are considered next to all kinds of capital, it is expected that the COUNTRIES first take measures for the optimal use of all capitals and secondly, policies to guide economic activists to pay more attention to all kinds of capitals. have knowledge including elites. Considering the importance of the subject of the present study, by using econometric techniques and the method of generalized moments, which was proposed by Blundel and Bond (1998), and using Stata 15 software, to investigate the effect of different types of capital (human capital, natural capital, foreign capital and physical capital) has studied the migration of elites in selected oil EXPORTING COUNTRIES during the period of 2008-2017.   METHODOLOGY In this section, inspired by theoretical discussions and empirical studies, by introducing the variables of human capital, natural capital, foreign capital and physical capital, we explore the factors affecting the migration of elites during the period of 2008-2017. Based on this, the variables used in the econometric model are as follows: (1) BDit= f(BDi, t-1, HC it, FDI it, PCit, NCit)                                                        In the following, the explanation of the dependent variable and explanatory variables will be discussed.  Elite migration (BD): Elite migration is the migration of skilled and highly skilled labor from developing COUNTRIES to developed COUNTRIES in order to achieve higher standards of living (Okoye, 2016). Elite immigration data is extracted from the American Statistical Yearbook of Immigration. In this study, the ratio of the number of elite immigrants to the population of the country of origin is used. The reason for choosing this variable instead of the number of elite immigrants is that the studied COUNTRIES have a significant gap with each other in terms of population. Human capital (HC): Human capital is the knowledge, skills, competencies and characteristics embodied in people that lead to the economic well-being of the individual and society (OECD, 2001). In this research, the per capita human capital variable has been used. Also, in this research, the data of the average years of education has been used as an indicator of human capital, extracted from the United Nations statistical database. According to theoretical foundations and empirical studies, it is expected that the impact of per capita human capital on elite immigration is positive.  Foreign Direct Investment (FDI): Foreign capital includes direct and indirect foreign investment. In this study, foreign direct investment per capita is used to show the effect of foreign capital on elite migration. The United Nations Conference on Trade and Development considers foreign direct investment as capital that implies long-term relations between the investor and the investee and brings the continuous control and interests of natural or legal persons residing in a country in a company outside the investor's home country (UNCTAD)., 1996). In this study, data extracted from the UNCTAD statistical database was used. According to theoretical bases, it is expected that the impact of foreign direct investment per capita on elite migration is negative.  Physical capital (PC): Physical capital is created by making changes in materials to shape tools that facilitate production and has a tangible and visible aspect. in this study, Klein's relation (1962) was used to estimate physical capital. According to this relationship, since investment is defined as changes in capital value, we have: (2) I=         Therefore, capital accumulation can be achieved by integrating in the following form: (3)         dk =Idt                          k= ʃ dk = ʃIdt    In the above relation for integration, a secondary form for It should be considered. Here it is assumed that the integral factor can be estimated from another relation as follows:                        (4) Ln It= a+ bt+ et                                                                                                                    By estimating the above regression using the ordinary least squares method, the following relationship is obtained by taking the antilogarithm. (5) It= I(0)  + c                                                                            (6) I(0)=   We put equation 5 in equation 3 to get capital accumulation: (7) Kt=                                                                                       Therefore, considering the initial conditions, we will have: (8) K0=                                                                                                   Then we will have the following:     (9) Kt= k0 + t                                                             The latter relationship, known as Klein's (1962) formula, gives the net capital in each year. In this regard, Kt is the net value of capital at time t. K0 is the net value of capital in the base year, It is the value of gross investment at time t and Dt is the rate of depreciation of fixed assets at time t. In this research, 5% depreciation rate is considered for physical assets (Griliches, 1988). According to theoretical foundations, the effect of physical capital on elite migration can be positive or negative. In this research, per capita physical capital has been used, and the data related to it has been obtained from the statistical database of the World Data Bank and based on considerations according to Klein's formula (1962).  Natural capital (NC): The abundance index of natural resources is defined as the share of fuel and mineral exports to the total export of goods (World Bank, 2018). Due to the fact that the COUNTRIES investigated in this study are COUNTRIES that have more than 40% of their exports related to fuel and minerals, the abundance of natural resources per capita has been used as an indicator to show the effect of natural capital on elite migration. According to the theoretical foundations, it is expected that the effect of natural capital per capita in the studied COUNTRIES on the migration of elites is positive. The data of this variable was extracted from the statistical database of the World Data Bank.  Intermittent elite migration (BDi, t-1): This variable is a dependent variable with an interruption period. One of the advantages of the GMM method is that it allows the dependent variable interval to be used as a suitable tool to control endogeneity (Baltagi, 2008).  Considering that the econometric equation is considered logarithmically, so if we express equation 1 explicitly. We will have the following equation: (10) lnBDit = ß1 + ß2 lnBDi, t-1+ ß3 lnHCit+ ß4 lnFDIit+ ß5 lnPCit+ ß6 lnNCit+ Ɛit + µit In the above equation, indices i and t represent the country and time, respectively, and the term µ is the specific characteristics of each country in the examined samples. To put it more simply, µ are the coefficients related to the virtual variables of sections and COUNTRIES, which, if ignored, will show themselves in the error sentences and residuals (Ɛ)   FINDINGS The econometric findings of the study indicate that the impact of human capital on elite migration has been positive and significant. In fact, an increase in human capital means an increase in the number of elites, and if the necessary platforms for maintaining and employing specialized human resources are not provided, with the increase in the accumulation of human capital, the migration of elites will increase. Also, the effect of foreign direct investment on the migration of elites has been negative and significant, and through strengthening innovation as a result of knowledge spillover and stimulating changes in the production structure, foreign direct investment increases the demand for elite and specialized manpower and reduces the migration of elites. Also, according to the findings, the effect of natural capital on the migration of elites has been positive and significant, and the abundance of natural resources in these COUNTRIES has led production and export to the extraction of natural resources and the sale of raw materials, and with the decrease in the demand for specialized labor, the grounds for increased migration It has created elites, and the effect of physical capital on the migration of elites has been negative and meaningless. In fact, the way to provide physical capital was through the internal technology channel and the use of expert personnel. But on the other hand, due to the nature of the studied COUNTRIES, the foreign currency income from natural resources has led to a kind of rent of natural resources, which has caused capital import to be considered profitable. As a result of these effects, the effect of per capita physical capital on elite migration has been meaningless.   CONCLUSION One of the questions that has existed in economics for a long time and has attracted the attention of thinkers in this field is why some nations are developed and others are less developed. In response to this question, theories have been formed that consider the difference in quality and quantity of human capital of COUNTRIES as one of the important and main components. Accordingly, one of The approaches to improve the growth and economic development of developing COUNTRIES have also been identified as investment in human capital and the subsequent accumulation of elites. therefore, A significant investment is made to train and provide these resources in developing and developed COUNTRIES. According to new growth theories, the role of highly skilled and elite workforce is very decisive in creating knowledge spillovers and economic growth. In addition to economic growth, achieving greater competitiveness in international markets also requires the use and increase of human capital. Despite this, while there is no doubt that there is a shortage of specialized and skilled manpower in less developed COUNTRIES, the world economy has seen a large volume of skilled immigrants leave these COUNTRIES during the last few decades.  Considering the key role of the elites in taking advantage of technological spillovers, creating innovation, economic growth, competitiveness, etc., we will provide policy recommendations to policymakers and economic decision makers in order to reduce the migration of elites: The importance of foreign capital is discussed both as physical capital and as a factor that forms a set of resources related to knowledge. On the other hand, according to the results, it has a negative and significant effect on the migration of elites in selected oil COUNTRIES. As a result, it is suggested to expand and improve policies to encourage foreign direct investment, such as creating political and economic stability through creating stability in Plans, policies and economic decisions in such a way that economic activists see a clear vision in front of them, the necessary ground to gain the trust of investors is provided. Human capital, as a key element, increases the efficiency to the scale of production and increases the absorption capacity in the foreign capital sector, considering the positive and significant effect of human capital on the migration of elites in selected oil COUNTRIES, it is recommended that the government Instead of EXPORTING primary and raw materials, consider the production and export of products with high added value and prevent the departure of a large number of scientific elites through the use and employment of efficient human capital and elites in this field. Considering the positive and significant effect of natural capital on the migration of elites in selected oil COUNTRIES that are rich in natural resources, it is suggested to always focus on improving the management of the abundance of natural resources and the government with well-considered policies to increase the foreign exchange earnings from the export of natural resources. In order to expand the human capital market, strengthen the scientific infrastructure and provide research facilities, etc., so as to reduce the migration of elites.

Limitation of production factor caused Increase in productivity as the most important priority in the process of achieving economic growth and development. So that the share of "increased productivity" in the growth of national production of developing COUNTRIES is more than the share of "increased Quantity inputs". But empirical evidence shows that most selected PETROLEUM EXPORTING COUNTRIES due to low productivity of factors of production are deprived of achieving a stable and continuous economic growth. In this study, we tried the crossover effect of natural resources abundance and good governance indexs on total factor productivity in fifteen selected COUNTRIES for the period 1996-2015. The research model using panel data and the generalized method of moments (GMM) was estimated. The estimation results show the crossover effect of abundance natural resources and all indexs of good governance on total factor productivity the in selected COUNTRIES have had a positive and meaningful effect.

Stress in financial markets is defined as the force that influences financial agents’ behavior in terms of the existence of uncertainty and the change of expectations, and its critical levels have been called “financial crisis”. The increase in oil revenues may have positive impacts on total supply by increasing investment, particularly state investment, the import of capital and intermediate goods, and the introduction of new technologies. When the value of the national currency increases as a result of momentum in oil prices, the price of imported capital and intermediate goods decreases. Due to the importance of the financial stress index and its relationship with important economic variables, the current study aimed to investigate the volatility spillover of financial stress to the macroeconomic indicators in the members of the Organization of the PETROLEUM EXPORTING COUNTRIES (OPEC). The study used multivariate GARCH, BEKK, and VAR models to investigate and analyze the hypothesis. The data were investigated daily from 2010 to 2019. The findings indicated that the financial stress index causes impulses in interest rates, liquidity, and inflation in Iran, Kuwait, and Qatar.

In recent years, global warming has increased with greenhouse gases such as methane, carbon dioxide, water vapor and nitrogen oxide, causing unhealthy changes in the environment. In this regard, this paper consists of five sections. After the introduction in the second part, we describe the studies carried out on the subject of the research. Then, in the third part, the topic is discussed. In the fourth section, the model used and the variables of the model have been introduced and the results of the estimation of the model have been presented. In the fifth part, we have also discussed the conclusion. Empirical studies on the topic of research have been divided into two categories (external studies and internal studies). In each of these divisions, the studies that have examined the impact of financial development on environmental pollution, as well as studies that have examined the role of governance on environmental pollution are mentioned. Since the study of the effect of financial development on the environment has recently been considered, this section is part of a series of studies that refer to the relationship between financial development and the environment, and also based on the few studies that link the financial and environmental development have analyzed the different channels of the impact of financial development on the environment. Since this study is an inter-country study, data panel information in the studied country group (selected COUNTRIES of the oil exporter) was used during the period 1996-1996. Also, the 16 selected oil EXPORTING COUNTRIES include Algeria, Bahrain, Ecuador, Egypt, Iran, Jordan, Kuwait, Libya, Nigeria, Oman, Qatar, Saudi Arabia, Syria, UAE, Venezuela and Yemen. Before presenting the results of model estimation, descriptive statistics of the variables used in the model (carbon dioxide emissions, per capita income, per capita energy consumption, good governance index, financial development index) have been presented. The innovation of the present study can be argued that this study, taking into account simultaneously two important variables and the effect of financial and governance development on the environment in one of the models with comprehensive and low probability of error (data panel), and also, by choosing the appropriate country group (which has a very high degree of homogeneity according to the subject matter), it has tried to speak with greater confidence about the effect of financial development on the environment. Based on the estimates of the present research, the coefficients related to economic growth, energy consumption with a positive sign, suggest that there is a direct relationship between these variables and environmental pollution. In other words, economic growth in these COUNTRIES has been accompanied by further environmental degradation, and excessive consumption of energy in the economic growth process has caused more environmental damage. Now, if economic growth is accompanied by financial development, it can be argued that financial development in the long run will lead to technological advancement, resulting in less energy consumption and less pollution. On the other hand, the coefficient of good governance is negative, indicating that good governance is one of the factors that improve the quality of the environment. Improving the governance index reduces the gap between the people and the state in environmental issues and reduces environmental pollution. In order to develop financial market and reduce environmental pollution it is recommended: Adoption of appropriate policies for the development of the financial sector and reduction of environmental pollution Provision of resources for the implementation of environmental protection projects, which are often run by the government and other social and economic institutions and require financing. Due to the lack of capital in low-quality institutions, the reform of financial and institutional infrastructure in order to attract and inflate capital (by regulating environmental regulations and prioritizing more environmentally friendly technologies) is recommended to these COUNTRIES so that they improve through the level of financial development. Policy makers should note that financial sector reforms must be implemented step by step with great care in order to prevent financial instability and its impact on environmental degradation. The positive relationship between GDP per capita and the per capita GDP of carbon dioxide in the selected COUNTRIES of the oil exporter can be attributed to the inefficiency of the production sector and the lack of access to advanced technology in this section, given these cases with the advancement of production technology and the modernization of the production sector, it is possible to prevent high pollution from high tech contamination. A positive relationship between per capita energy consumption and environmental pollution can be partly attributed due to the high energy use in the commercial and home sectors and in transportation, in which energy efficiency is not optimized in these sectors. With this in mind, energy consumption optimization policies and raising the level of people's awareness of environmental hazards can prevent energy consumption from contaminating the environment.

The present paper deals with the operations & functions of Gas EXPORTING COUNTRIES Organization (GECO) that has been recently constituted. This paper also asks questions as to whether there is a cooperation between OPEC and GECO or each of them operates independently, and/or whether GECO act as a cartel to similar to other cartel in the world?