IDEAS home Printed from https://ideas.repec.org/a/eco/journ2/2019-02-43.html
   My bibliography  Save this article

Oil and Gas Budget Revenues in Russia after Crisis in 2015

Author

Listed:
  • Alexey Mikhaylov

    (Department of Financial Markets and Banks, Financial University under the Government of the Russian Federation, Moscow, Russia)

Abstract

The paper propose the energy market crisis impact on the Russian budget revenues in 2015. We develop the model to forecast the impact of oil prices on budget revenues in Russia. The practical significance of this work lies in the structuring of existing knowledge on oil crisis impact on the Russian budget. Brent crude oil prices were in the range of 115-79 dollars per barrel in 2014. The cyclical strengthening of US dollar and political factors have led to an increase in supply in the oil market by more than 20%. In 2015, we saw a decline in oil prices below $ 40 per barrel. The strengthening of the United States dollar was a major factor in the decline, as it was in the middle of 2001, when the price fell by about a one third before starting a long-term sharp increase.

Suggested Citation

  • Alexey Mikhaylov, 2019. "Oil and Gas Budget Revenues in Russia after Crisis in 2015," International Journal of Energy Economics and Policy, Econjournals, vol. 9(2), pages 375-380.
  • Handle: RePEc:eco:journ2:2019-02-43
    as

    Download full text from publisher

    File URL: https://www.econjournals.com/index.php/ijeep/article/download/6635/4260
    Download Restriction: no

    File URL: https://www.econjournals.com/index.php/ijeep/article/view/6635/4260
    Download Restriction: no

    References listed on IDEAS

    as
    1. Engemann, Kristie M. & Kliesen, Kevin L. & Owyang, Michael T., 2011. "Do Oil Shocks Drive Business Cycles? Some U.S. And International Evidence," Macroeconomic Dynamics, Cambridge University Press, vol. 15(S3), pages 498-517, November.
    2. Driesprong, Gerben & Jacobsen, Ben & Maat, Benjamin, 2008. "Striking oil: Another puzzle?," Journal of Financial Economics, Elsevier, vol. 89(2), pages 307-327, August.
    3. Hamilton, James D, 1983. "Oil and the Macroeconomy since World War II," Journal of Political Economy, University of Chicago Press, vol. 91(2), pages 228-248, April.
    4. Du, Limin & He, Yanan, 2015. "Extreme risk spillovers between crude oil and stock markets," Energy Economics, Elsevier, vol. 51(C), pages 455-465.
    5. Estrella, Arturo, 1998. "A New Measure of Fit for Equations with Dichotomous Dependent Variables," Journal of Business & Economic Statistics, American Statistical Association, vol. 16(2), pages 198-205, April.
    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. repec:eco:journ2:2019-04-23 is not listed on IDEAS
    2. repec:eco:journ2:2019-05-6 is not listed on IDEAS

    More about this item

    Keywords

    oil price forecasting; budget revenues; oil and gas impact.;

    JEL classification:

    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications
    • F20 - International Economics - - International Factor Movements and International Business - - - General
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

    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:eco:journ2:2019-02-43. 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: (Ilhan Ozturk). General contact details of provider: http://www.econjournals.com .

    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 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.

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

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.