THE EFFECTS OF BRENT SPOT OIL VARIATION ON MACROECONOMICS INDICATORS: CASE STUDY FOR FIVE EUROPEAN COUNTRIES

Bogdan Ion Boldea ()
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Bogdan Ion Boldea: „West University of Timisoaraâ€

Annales Universitatis Apulensis Series Oeconomica, 2023, vol. 2, issue 25, 2

Abstract: This paper was purposed to analyses the correlation between Brent Spot Oil price per barrel and the following macroeconomic indicators: Gross Domestic Product, Balance of Payments, Balance of Trade and Net Exports, for the each of the following countries Romania, Germany, France, Italy, and Spain. We did a comparison between the countries indicators in order to examine how they are related and make a correlation of their evolution from 1971 to 2021. The Pearson's coefficient was used in order to identify whether the correlation is positive or negative, and if there is a connection between them or not. In addition, we ran a linear regression for each country independently to see what kind of relationship there is between current Brent Spot Oil price/barrel and the selected macroeconomic indicators.

Keywords: Financial stability; GDP; Balance of Trade; Balance of Payments; Regression analysis (search for similar items in EconPapers)
JEL-codes: G41 Q41 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:alu:journl:v:2:y:2023:i:25:p:2

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