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Oil Price And Economic Growth : An Empirical Study In Russia

This study attempts to examine the relationship between oil price and economic growth together with exchange rate and inflation rate in Russia. The time span covered by the series is from 1995:Q1 to 2014:Q4, giving 80 observations. The tests that have been employed in this study include unit root te...

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Main Author: Erokhia, Darian
Format: Final Year Project Report
Language:English
Published: Universiti Malaysia Sarawak (UNIMAS) 2016
Subjects:
HB Economic Theory
Online Access:http://ir.unimas.my/id/eprint/24774/3/Erokhina%20Daria%20ft.pdf
http://ir.unimas.my/id/eprint/24774/
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spelling my.unimas.ir.247742024-02-20T07:35:17Z http://ir.unimas.my/id/eprint/24774/ Oil Price And Economic Growth : An Empirical Study In Russia Erokhia, Darian HB Economic Theory This study attempts to examine the relationship between oil price and economic growth together with exchange rate and inflation rate in Russia. The time span covered by the series is from 1995:Q1 to 2014:Q4, giving 80 observations. The tests that have been employed in this study include unit root tests, namely Augmented Dickey-Fuller (ADF) test, Phillips-Perron (PP) test and KwiatkowskiPhillips-Schmidt-Shin (KPSS) test; cointegration test of Johansen and Juselius; Granger causality test based on Vector Error Correction Model (VECM) to investigate the long run and short run relationship; and both Variance Decomposition and Impulse Response Function to investigate the relationship beyond the sample. The empirical findings show the existence of relationship between the variables, oil prices not only affect economic growth, but also have the impact towards exchange rate and inflation rate. Furthermore, the results of short run Granger causality for the tested variables show the existence of unidirectional causality running from all the independent variables which are oil price, exchange rate, and inflation rate towards GDP. In addition, there is a casual relationship between GDP and other determinants beyond the sample. Universiti Malaysia Sarawak (UNIMAS) 2016 Final Year Project Report NonPeerReviewed text en http://ir.unimas.my/id/eprint/24774/3/Erokhina%20Daria%20ft.pdf Erokhia, Darian (2016) Oil Price And Economic Growth : An Empirical Study In Russia. [Final Year Project Report] (Unpublished)
institution Universiti Malaysia Sarawak
building Centre for Academic Information Services (CAIS)
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Malaysia Sarawak
content_source UNIMAS Institutional Repository
url_provider http://ir.unimas.my/
language English
topic HB Economic Theory
spellingShingle HB Economic Theory
Erokhia, Darian
Oil Price And Economic Growth : An Empirical Study In Russia
description This study attempts to examine the relationship between oil price and economic growth together with exchange rate and inflation rate in Russia. The time span covered by the series is from 1995:Q1 to 2014:Q4, giving 80 observations. The tests that have been employed in this study include unit root tests, namely Augmented Dickey-Fuller (ADF) test, Phillips-Perron (PP) test and KwiatkowskiPhillips-Schmidt-Shin (KPSS) test; cointegration test of Johansen and Juselius; Granger causality test based on Vector Error Correction Model (VECM) to investigate the long run and short run relationship; and both Variance Decomposition and Impulse Response Function to investigate the relationship beyond the sample. The empirical findings show the existence of relationship between the variables, oil prices not only affect economic growth, but also have the impact towards exchange rate and inflation rate. Furthermore, the results of short run Granger causality for the tested variables show the existence of unidirectional causality running from all the independent variables which are oil price, exchange rate, and inflation rate towards GDP. In addition, there is a casual relationship between GDP and other determinants beyond the sample.
format Final Year Project Report
author Erokhia, Darian
author_facet Erokhia, Darian
author_sort Erokhia, Darian
title Oil Price And Economic Growth : An Empirical Study In Russia
title_short Oil Price And Economic Growth : An Empirical Study In Russia
title_full Oil Price And Economic Growth : An Empirical Study In Russia
title_fullStr Oil Price And Economic Growth : An Empirical Study In Russia
title_full_unstemmed Oil Price And Economic Growth : An Empirical Study In Russia
title_sort oil price and economic growth : an empirical study in russia
publisher Universiti Malaysia Sarawak (UNIMAS)
publishDate 2016
url http://ir.unimas.my/id/eprint/24774/3/Erokhina%20Daria%20ft.pdf
http://ir.unimas.my/id/eprint/24774/
_version_ 1792160631314448384
score 13.211869

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