Influence Oil Price towards Macroeconomic Indicators in Russia
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AbstractThis 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.JEL Classifications: C51, C58, F31, G12, G15DOI: https://doi.org/10.32479/ijeep.6807
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How to Cite
Nyangarika, A., Mikhaylov, A., & Richter, U. H. (2018). Influence Oil Price towards Macroeconomic Indicators in Russia. International Journal of Energy Economics and Policy, 9(1), 123–129. Retrieved from https://www.econjournals.com/index.php/ijeep/article/view/6807