Influence Oil Price towards Macroeconomic Indicators in Russia

Anthony Nyangarika, Alexey Mikhaylov and Ulf Henning Richter
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Anthony Nyangarika: School of Management and Economics, Beijing Institute of Technology, Beijing, China,
Ulf Henning Richter: Tongji University (School of Economics and Management), Shanghai, China.

International Journal of Energy Economics and Policy, 2019, vol. 9, issue 1, 123-129

Abstract: This paper proposes the effect of oil price shocks on the Russian economic indicators using time series for the period 1991-2016 year to cover all of oil price shocks. The vector autoregressive and the Dickey-Fuller test were utilized to investigate the long-run and the short-run relationships between variables. From the results shows that one of the most important external impact factor is the world price of oil. The research suggests a positive and significant long-term relationship between oil prices and Russian GDP dynamics.

Keywords: oil price shocks; GDP growth; forecasting; oil impact. (search for similar items in EconPapers)
JEL-codes: C51 C58 F31 G12 G15 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (18)

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Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2019-01-15

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