IDEAS home Printed from https://ideas.repec.org/a/ris/apltrx/0043.html
   My bibliography  Save this article

The impact of oil price dynamics on the macroeconomic indicators of the Russian economy

Author

Listed:
  • Melnikov, Roman

    (Russian Academy of Public Administration under the President of the Russian Federation)

Abstract

The paper assesses the dependence of basic macroeconomic indicators of the Russian economy on the oil price dynamics on the world market. Hypotheses about the sensitivity of macroeconomic indicators of the Russian economy to oil price fluctuations are formulated, and a simultaneous equations system is specified and estimated in order to test these hypotheses. The scenarios of reaction of the Russian economy to exogenous shocks related to sharp oil price cuts are investigated, and policy recommendations aimed to minimize the negative impact of these shocks are formulated

Suggested Citation

  • Melnikov, Roman, 2010. "The impact of oil price dynamics on the macroeconomic indicators of the Russian economy," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 17(1), pages 20-29.
  • Handle: RePEc:ris:apltrx:0043
    as

    Download full text from publisher

    File URL: http://pe.cemi.rssi.ru/pe_2010_1_20-29.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. repec:zbw:bofitp:2002_003 is not listed on IDEAS
    2. Jouko Rautava, 2002. "The role of oil prices and the real exchange rate in Russia‘s economy," Macroeconomics 0209004, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Sohag, Kazi & Hassan, M. Kabir & Kalina, Irina & Mariev, Oleg, 2023. "The relative response of Russian National Wealth Fund to oil demand, supply and risk shocks," Energy Economics, Elsevier, vol. 123(C).
    2. repec:gai:rpaper:124 is not listed on IDEAS
    3. Balashova, Svetlana & Serletis, Apostolos, 2020. "Oil prices shocks and the Russian economy," The Journal of Economic Asymmetries, Elsevier, vol. 21(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Fakhri Hasanov, 2010. "The Impact of Real Oil Price on Real Effective Exchange Rate: The Case of Azerbaijan," Discussion Papers of DIW Berlin 1041, DIW Berlin, German Institute for Economic Research.
    2. Catherine Locatelli, 2006. "The russian oil industry between public and private governance : obstacles to international oil companies' investment strategies," Post-Print halshs-00002159, HAL.
    3. Jacek Cukrowski, 2004. "Russian oil: the role of the sector in Russia's economy," Post-Communist Economies, Taylor & Francis Journals, vol. 16(3), pages 285-296.
    4. Bernd Hayo & Ali M. Kutan, 2005. "The impact of news, oil prices, and global market developments on Russian financial markets," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 13(2), pages 373-393, April.
    5. Bruno Merlevede & Koen Schoors & Bas van Aarle, 2004. "Russia from Bust to Boom: Oil, Politics or the Ruble?," William Davidson Institute Working Papers Series 2004-722, William Davidson Institute at the University of Michigan.
    6. Bernd Hayo & Ali Kutan, 2002. "The Impact of News, Oil Prices, and International Spillovers on Russian Financial Markets," Finance 0209001, University Library of Munich, Germany.
    7. Muhammad Shahbaz & Aviral Kumar Tiwari & Mohammad Iqbal Tahir, 2015. "Analyzing time-frequency relationship between oil price and exchange rate in Pakistan through wavelets," Journal of Applied Statistics, Taylor & Francis Journals, vol. 42(4), pages 690-704, April.
    8. Hasanov, Fakhri, 2009. "Analyzing price level in a booming economy: the case of Azerbaijan," MPRA Paper 29555, University Library of Munich, Germany.
    9. Catherine Locatelli, 2002. "La faisabilité de la libéralisation de l'industrie gazière russe," Post-Print halshs-00177826, HAL.
    10. Katsuya Ito, 2008. "Oil price and macroeconomy in Russia," Economics Bulletin, AccessEcon, vol. 17(17), pages 1-9.
    11. Sadek Boussena & Catherine Locatelli, 2004. "Vers une plus grande cohérence de la politique pétrolière de la Russie ?," Post-Print halshs-00003489, HAL.
    12. Kaitila, Ville, 2003. "An Assessment of RussiaŽs Growth Prospects in 2003 - 2010," Discussion Papers 869, The Research Institute of the Finnish Economy.
    13. Oxana Malakhovskaya & Alexey Minabutdinov, 2014. "Are commodity price shocks important? A Bayesian estimation of a DSGE model for Russia," International Journal of Computational Economics and Econometrics, Inderscience Enterprises Ltd, vol. 4(1/2), pages 148-180.
    14. Markku Tykkyläinen, 2003. "Geographical Dimensions of Russian Energy Developments," ERSA conference papers ersa03p464, European Regional Science Association.
    15. Katsuya Ito, 2009. "The Russian Economy and the Oil Price: A Co-integrated VAR Approach," Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), vol. 16(1), pages 220-227, May.
    16. Tuuli Koivu & Pekka Sutela, 2005. "Financial Systems in Transition: Could Small Actually Be Beautiful?," Eastern Economic Journal, Eastern Economic Association, vol. 31(2), pages 265-283, Spring.
    17. Semko Roman, 2013. "Optimal economic policy and oil prices shocks in Russia," EERC Working Paper Series 13/03e, EERC Research Network, Russia and CIS.

    More about this item

    Keywords

    Oil price dynamics; macroeconomic indicators of the Russian economy; simultaneous equations systems;
    All these keywords.

    JEL classification:

    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
    • F47 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Forecasting and Simulation: Models and Applications

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ris:apltrx:0043. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Anatoly Peresetsky (email available below). General contact details of provider: http://appliedeconometrics.cemi.rssi.ru/ .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.