Asymmetric Causality Relationship between Oil Prices and Inflation in BRIC Countries

Aziza Syzdykova, Aktolkin Abubakirova, Lyazzat Kudabayeva, Ardak Zhantayeva and Aizhan Omarova
Additional contact information
Aziza Syzdykova: Khoja Akhmet Yassawi International Kazakh-Turkish University, Turkestan, Kazakhstan
Aktolkin Abubakirova: Khoja Akhmet Yassawi International Kazakh-Turkish University, Turkestan, Kazakhstan
Lyazzat Kudabayeva: Taraz Regional University named after M.Kh.Dulaty, Taraz, Kazakhstan
Ardak Zhantayeva: Taraz Regional University named after M.Kh.Dulaty, Taraz, Kazakhstan
Aizhan Omarova: Yessenov University, Aktau, Kazakhstan

International Journal of Energy Economics and Policy, 2022, vol. 12, issue 3, 184-191

Abstract: Sharp and persistent increases in oil prices continue to attract the attention of policy makers and economists, and many studies are conducted on the inflationary effects of oil price shocks. Knowledge of the inflationary effects of oil price increases will help monetary authorities adopt appropriate policies to meet these shocks. In this study, the asymmetric relationship between inflation rates and oil prices in the BRIC countries, which alone consumes approximately 28% of the world s total oil consumption in 2020, has been examined. In this context, the relationship between the variables was investigated with the asymmetric causality analysis method developed by Hatemi-J and Roca (2014) using monthly data for the period January 2001 to September 2021. As a result of the analysis applied in the study, different results were obtained for the BRIC countries.

Keywords: oil prices; inflation; BRIC countries; asymmetric causality relationship (search for similar items in EconPapers)
JEL-codes: C23 G15 Q40 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://www.econjournals.com/index.php/ijeep/article/download/12814/6752 (application/pdf)
https://www.econjournals.com/index.php/ijeep/article/view/12814 (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:journ2:2022-03-19

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 ().