TY - JOUR AU - Nyangarika, Anthony AU - Mikhaylov, Alexey AU - Richter, Ulf Henning PY - 2018/12/07 Y2 - 2024/03/29 TI - Influence Oil Price towards Macroeconomic Indicators in Russia JF - International Journal of Energy Economics and Policy JA - IJEEP VL - 9 IS - 1 SE - Articles DO - UR - https://www.econjournals.com/index.php/ijeep/article/view/6807 SP - 123-129 AB - <p>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.</p><p><strong>Keywords: </strong>oil price shocks, GDP growth, forecasting, oil impact.</p><p><strong>JEL Classification</strong><strong>s</strong><strong>:</strong> C51, C58, F31, G12, G15</p><p>DOI: <a href="https://doi.org/10.32479/ijeep.6807">https://doi.org/10.32479/ijeep.6807</a></p> ER -