Background:The economy of Persian Gulf countries is highly dependent on oil revenues, and most of the government revenues of these countries are provided through oil revenues. The existence of dependence between oil revenues and economic growth in oil-rich countries is one of the topics discussed among economists and theoretical issues. Different things have been said in this context. The main purpose of this research was to investigate the effect of oil revenues on the economic growth of Persian Gulf countries with an emphasis on the financial development channel. Methodology: This study was practical in terms of its purpose and descriptive-analytical in terms of its method. The statistical sample in this study was 7 oil-exporting countries that are located on the edge of the Persian Gulf and included the countries of Iran, Qatar, Kuwait, Saudi Arabia, Iraq, Bahrain, and the United Arab Emirates, and the time frame for the research data 2000-2019 considered.
Also, the threshold panel regression model was used to investigate the relationship between oil revenues and financial development in Persian Gulf countries and its effect on the economic growth of those countries, as well as to investigate the effect of the degree of trade openness on the economic growth of the mentioned countries. Conclusion: At the confidence level99%, The effect of oil revenues on economic growth through the financial development channel for the first regime where the amount of financial deepening is less than the threshold. It is positive and significant and not significant for the second regime where the dependence (financial development channel) on oil revenues is higher than the threshold. So that before reaching the threshold, one percent in oil revenues increases the economic growth by 9.87 percent. For the first regime, where the financial deepening ratio is less than 1.8980%, a one percent increase in oil income has a significant impact on economic growth. The trade openness variabl