Advanced Search
MyIDEAS: Login to save this article or follow this journal

Monetary and Credit Policy Options for an Oil Exporting Country


Author Info

  • Sergey Drobyshevsky

    (Gaidar Institute for Economic Policy)

  • A. Kozlovskaya
  • Pavel Trunin

    (Gaidar Institute for Economic Policy)


The paper deals with an analysis of efficacy of monetary and credit policy in the major oil_exporting economies from the perspective of sterilization of shocks caused by money offer generated by fluctuations of export revenues fueld by oil price fluctuation on the global market. Basing on methods of evaluation of multivariate time series, the first section of the paper tests a hypothesis of efficiency of a monetary and credit policy in oil exporting economies under external price shocks. The second section presents a macroeconomic model of of general equilibrium with money in the usefulness function, which describes a small open economy that exports mineral goods the prices for which are exogenously set on the world market. Basing on results and conclusions contained in both sections, the authors formulate a series of recommendations on selecting the CBR's monetary and credit policy under high/low oil prices.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL:
File Function: Revised version, 2013
Download Restriction: no

Bibliographic Info

Article provided by Gaidar Institute for Economic Policy in its journal Research Paper Series.

Volume (Year): ()
Issue (Month): ()

as in new window
Handle: RePEc:gai:rpaper:121

Contact details of provider:
Postal: Gazetny lane 5, 125993, Moscow
Phone: (495) 629-6413
Fax: (495) 203-8816
Web page:
More information through EDIRC

Related research


Find related papers by JEL classification:


No references listed on IDEAS
You can help add them by filling out this form.



This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.


Access and download statistics


When requesting a correction, please mention this item's handle: RePEc:gai:rpaper:121. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Victor Hugues).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.