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Losers of the Falling Oil Prices: Changes in Oil Vulnerability in the Oil Exporting Countries

Author

Listed:
  • Zolt n Nagy

    (Institute of World and Regional Economics, Faculty of Economics, University of Miskolc 3515 Miskolc-Egyetemv ros, Hungary)

  • Tekla Sebesty n Sz p

    (Institute of World and Regional Economics, Faculty of Economics, University of Miskolc 3515 Miskolc-Egyetemv ros, Hungary.)

Abstract

The oil market was relatively balanced between 2011 and 2013 at around 100 USD. In the second half of 2014 the sharp decline in oil prices was an unexpected event for most of the market players. The size of price drops justifies an analysis of the oil vulnerability of the most significant net oil exporting countries. In this study many types of trade statistics (export intensity index, terms of trade index, export sensitivity, Herfindahl-Hirschman index), and furthermore the Bennett method are applied to quantify the oil vulnerability of the 14 most important oil exporting nations. It is possible to identify country groups, which enables us to differentiate the applicable economic instruments and make policy recommendations

Suggested Citation

  • Zolt n Nagy & Tekla Sebesty n Sz p, 2016. "Losers of the Falling Oil Prices: Changes in Oil Vulnerability in the Oil Exporting Countries," International Journal of Energy Economics and Policy, Econjournals, vol. 6(4), pages 738-752.
    • Handle: RePEc:eco:journ2:2016-04-10
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    References listed on IDEAS

    as
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    3. Nasser Al-Mawali & Haslifah Mohamad Hasim & Khalil Al-Busaidi, 2016. "Modeling the Impact of the Oil Sector on the Economy of Sultanate of Oman," International Journal of Energy Economics and Policy, Econjournals, vol. 6(1), pages 120-127.
    4. Gupta, Eshita, 2008. "Oil vulnerability index of oil-importing countries," Energy Policy, Elsevier, vol. 36(3), pages 1195-1211, March.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Sugra Humbatova & Ibrahim Guliyev Gadim & Sabuhi Tanriverdiyev Mileddin & Natig Gadim-Oglu Hajiyev, 2023. "Impact of Oil Factor on Consumer Market: The Case of Azerbaijan," International Journal of Energy Economics and Policy, Econjournals, vol. 13(4), pages 202-215, July.

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    More about this item

    Keywords

    Oil Prices; Vulnerability; Energy Security;
    All these keywords.

    JEL classification:

    • F19 - International Economics - - Trade - - - Other
    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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