The impact of oil price on the exchange rates: A panel analysis for Selected Oil Exporter Countries

Sabit Baimaganbetov (), Zhanture Zhetibayev, Elvira Alimkulova and Ulmeken Makhanbetova
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Sabit Baimaganbetov: Akhmet Yassawi University
Zhanture Zhetibayev: Akhmet Yassawi University
Elvira Alimkulova: Akhmet Yassawi University
Ulmeken Makhanbetova: Akhmet Yassawi University

Bulletin of Economic Theory and Analysis, 2019, vol. 4, issue 1, 1-11

Abstract: Changes in oil prices can affect macroeconomic variables of both oil exporters and oil importing countries. While the rise in oil prices is Good news for Oil-exporting countries, it is bad news for oil-importing countries. The study selected 10 countries from oil-exporting developing countries. The impact of Brent crude oil prices on the exchange rate using the monthly data of these countries 2003-2017 is investigated using the panel Co-Integration test of the Westerlund (2007). Empirical findings that improvements in oil prices affect the real exchange rate of oil-exporting developing countries.

Keywords: Oil Prices; Cross-Section Dependence; Panel Co-Integration; Panel Causality Test (search for similar items in EconPapers)
JEL-codes: C23 C33 Q43 (search for similar items in EconPapers)
Date: 2019
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