Kopytin Ivan, Pilnik Nikolay, Stankevich Ivan
Modelling Five Variables BVAR for Economic Policies and Growth in Azerbaijan, Kazakhstan and Russia: 20052020 // International Journal of Energy Economics and Policy. 2021. Vol. 11, Issue 5. P. 510-518. DOI 10.32479/ijeep.11324.
Publication Type:
Rubric:


ISSN 2146-4553

DOI 10.32479/ijeep.11324

The paper applies the Bayesian Vector Auto Regression (BVAR) framework to analysis of the influence of world oil price and exchange rate and interest rate policies on economic growth and consumer inflation in three post-Soviet oil exporters: Azerbaijan, Kazakhstan and Russia. It is shown that transition to inflation targeting regime with floating exchange rate in 2014 – 2015 weakened the link between economic growth and world oil price in Russia and Kazakhstan. In Azerbaijan previously nonexistent systemic link between GDP growth and world oil price has emerged. It is also shown that all three countries de facto diverted from free floating exchange rate regime after 2017.


Keywords: Brent Oil Price | Nominal Exchange Rate | Economic growth | Interest Rate | Inflation |



OTHER PUBLICATIONS ON THIS TOPIC

Zhukovskaja V.
Change in the world economic system: new role of developing countries / Zhukovskaya V

Kopytin Ivan
Influence of Oil Prices on Stock Market Indexes in Russia and Norway [Text] / I.A. Kopytin // Studies on Russian Economic Development. 2014. V. 25. 1. . 99 110.

Volodin Andrey
The Logic of Directed Development in Postcolonial India [Text] / A. G. Volodin // Herald of the Russian Academy of Sciences. 2018. Vol. 88. Issue 1. P. 96-103. DOI: 10.1134/S1019331618010069

Klinova Marina, Sidorova Elena
Economic Sanctions and Their Impact on Russian Economic Relations with the European Union [Text] / M. Klinova, E. Sidorova // Problems of Economic Transition. 2016. Vol. 58. 3. P. 218 234.

Kudinova Maria
Global Public Debt Since 1995: Long-Term Trends, Current Phase, Medium-Term Outlook for Economic Growth // Journal of Economics, Finance and Management Studies. 2023. Vol. 06, Issue 04. P. 1392-1401. DOI 10.47191/jefms/v6-i4-01.

Klinova Marina, Sidorova Elena
Public enterprise sector in Russia in the XXI century. // http://www.ciriec.ulg.ac.be/en/event-ciriec/31eme-congres-international-reims-france-21-23-septembre-2016/

Salitskii Alexander, Tatsii V.
Chinas way: A model or an Anti-model? [Text] / A. Salitsky, V. Tatsiy // Far Eastern Affairs. 2014. V. 42. 4. . 65 83.

Kapelyushnikov Rostislav , Kuznetsov Al., Demina Natalia, Kuznetsova O.
Threats to security of property rights in a transition economy: An empirical perspective [Text] / Rostislav Kapeliushnikov, Andrei Kuznetsov, Natalia Demina, Olga Kuznetsova // Journal of Comparative Economics. 2013. Volume 41. Issue 1. P. 245 264.

Mamedyarov Zaur
The Role of Interindustry Integration in Economic Growth: Theoretical and Strategic Implications // Studies on Russian Economic Development. 2021. Vol. 32, Issue 6. P. 656 - 661. DOI 10.1134/S1075700721060101.

Kopytin Ivan, Maslennikov Alexander, Zhukov Stanislav
Europe in World Natural Gas Market: International Transmission of European Price Shocks // International Journal of Energy Economics and Policy. 2022. Vol. 12, Issue 3. P. 8-15. DOI 10.32479/ijeep.12941.

Trofimova Irina
Countries of BRICS and developing countries in the system of world economic relations: shifts in international capital movement / Trophimova I

Dynkin Alexander , Pantin Vladimir
A Peaceful Clash. The US and China: Which Model Holds Out Promise for the Future? [Text] / A. Dynkin, V. Pantin // World Futures: The Journal of Global Education. 2012. V.68. Issue 7. P. 506 517.

Kapelyushnikov Rostislav , Kuznetsov Al., Kuznetsova O.
The Role of the Informal Sector, Flexible Working Time and Pay in the Russian Labour Market Model /R. Kapelushnikov, A. Kuznetsov, O. Kuznetsova // Post-Communist Economies. 2012. V.24. Issue 2. P. 177 190.

Afontsev Sergey
World crisis: paradoxes of analysis and scenario options for development // Population and Economics : e-journal. 2020. Vol. 4, Issue 2. P. 153-157. DOI 10.3897/popecon.4.e54379. URL: https://populationandeconomics.pensoft.net/article/54379/. Date of publication: 01.06.2020.

Mamedyarov Zaur
The Uneven Development Paradox of the High-Tech Sector Amid a Comparable Economic Growth in the European Union and the United States // Studies on Russian Economic Development. 2021. Vol. 32, Issue 5. P. 555-563. DOI 10.1134/S1075700721050075.

Kanaev Evgeny, Sumsky Victor
Russias Place in a Polycentric Naval Setup [Text] / V. Sumsky, E. Kanaev // Maritime Affairs: Journal of the National Maritime Foundation of India. 2015. V. 24. Issue 2. P. 9 15.

Lomanov Alexander, Yan Xiao
Chinas Theoretical Innovation and Economic Policy in the New Era // World Socialism Studies : ISSN 2096-2630. 2021. Issue 3. P. 14-19, 89.

Anosov Boris
Activating Consumer Demand as a Key to Successful Development of the PRC Economy // Studies on Russian Economic Development. 2021. Vol. 32, Issue 6. P. 705-711. DOI 10.1134/S1075700721060022.

Lomanov Alexander
To Foresee Black Swans, to Watch Out for Gray Rhinos. Xi Jinping Getting China Ready for a New Long March // Russia in Global Affairs. 2023. Vol. 21, Issue 2. P. 164-179. DOI 10.31278/1810-6374-2023-21-2-164-179.

Lomanov Alexander
Modern China: Internal and External Challenges at a New Stage of Reforms // Herald of the Russian Academy of Sciences. 2020. Vol. 90, Issue 1. P. 1-8. DOI 10.1134/S1019331620010189.
Related publications


Comments (0)

No comments

Add comment







First news
Institute News
14/04/2024

Ivan Zaitsev gave a video lecture as part of the series of programs "Influence of Buddhism on Myanmar Politics" on the YouTube channel "Proshloe: Historical Journal".

more...

12/04/2024

On April 12, 2024, the RIAC website published an article by Gleb Makarevich, Junior Research Fellow of the Center of the Indo-Pacific Region, “Sabre Dance: What Goals India and Pakistan Pursue in the South Caucasus”.

more...

Recently Published