Does Crude Oil Prices have Effect on Exports, Imports and GDP on BRICS Countries? - An Empirical Evidence

Shripad Ramchandra Marathe and Guntur Anjana Raju
Additional contact information
Shripad Ramchandra Marathe: Research Scholar, Goa Business School, Goa University, Taleigao, Goa, India,
Guntur Anjana Raju: Goa Business School, Goa University, Taleigao, Goa, India

International Journal of Energy Economics and Policy, 2020, vol. 10, issue 6, 524-528

Abstract: The complexity of the World Oil market has risen significantly in recent years and today s Oil prices require new methods to consider, model and forecast. In addition to the start of the Oil markets financialization era, structural changes have occurred on the global Oil market. This paper presents a simple framework for understanding the effect of oil prices on BRICS countries macroeconomic variables over a period of time from January 1, 2000 to December 31, 2019 using the Cointegration, vector error correction model (VECM) and granger causality test. Our analysis shows that there is a long-term relationship between the Macroeconomic variables and Crude Oil, and also suggests that there is a uni-directional and bi-directional relationship between the variables in BRICS.

Keywords: Crude Oil prices; BRICS; Granger Causality; Co-integration; Vector Error Correction Model (search for similar items in EconPapers)
JEL-codes: G12 G15 Q43 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.econjournals.com/index.php/ijeep/article/download/10018/5493 (application/pdf)
https://www.econjournals.com/index.php/ijeep/article/view/10018/5493 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2020-06-67

Access Statistics for this article

International Journal of Energy Economics and Policy is currently edited by Ilhan Ozturk

More articles in International Journal of Energy Economics and Policy from Econjournals
Bibliographic data for series maintained by Ilhan Ozturk ().