Econometric estimation of the impact of oil prices shock on the Russian economy in VECM model

Andrey Polbin

Voprosy Ekonomiki, 2017, issue 10

Abstract: The paper estimates terms of trade shock influence on the Russian output, gross investment and consumption using VECM model with exogenous variables. As a proxy for terms of trade we use oil prices. Empirical results demonstrate that a permanent oil price increase led to a short-run economic boom followed by a negative contribution to economic growth.

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:nos:voprec:y:2017:id:348

DOI: 10.32609/0042-8736-2017-10-27-49

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