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The impact of oil price on the exchange rates: A panel analysis for Selected Oil Exporter Countries

Author

Listed:
  • Baimaganbetov, Sabit

    (Akhmet Yassawi University)

  • Zhetibayev, Zhanture

    (Akhmet Yassawi University)

  • Alimkulova, Elvira

    (Akhmet Yassawi University)

  • Makhanbetova, Ulmeken

    (Akhmet Yassawi University)

Abstract

Changes in oil prices can affect macroeconomic variables of both oil exporters and oil importing countries. While the rise in oil prices is Good news for Oil-exporting countries, it is bad news for oil-importing countries. The study selected 10 countries from oil-exporting developing countries. The impact of Brent crude oil prices on the exchange rate using the monthly data of these countries 2003-2017 is investigated using the panel Co-Integration test of the Westerlund (2007). Empirical findings that improvements in oil prices affect the real exchange rate of oil-exporting developing countries.

Suggested Citation

  • Baimaganbetov, Sabit & Zhetibayev, Zhanture & Alimkulova, Elvira & Makhanbetova, Ulmeken, 2019. "The impact of oil price on the exchange rates: A panel analysis for Selected Oil Exporter Countries," Bulletin of Economic Theory and Analysis, BETA Journals, vol. 4(1), pages 1-11, June.
    • Handle: RePEc:ris:betajl:0032
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    More about this item

    Keywords

    Oil Prices; Cross-Section Dependence; Panel Co-Integration; Panel Causality Test;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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