CEU Electronic Theses and Dissertations, 2009
| Author | Rahmanov, Ramiz Rasim |
|---|---|
| Title | DO OIL PRICE SHOCKS MATTER FOR TRANSITION ECONOMIES? EVIDENCE FROM KAZAKHSTAN, RUSSIA AND UKRAINE |
| Summary | This thesis empirically analyzes the effects of oil price shocks on three transition countries of which Kazakhstan and Russia are oil exporters, and Ukraine is an oil importer. Employing the VAR methodology and asymmetric specifications of oil price shocks, I find that economies of these countries are vulnerable to oil price changes. In particular, in Kazakhstan, oil price increases affect inflation. In Russia, oil price increases have effect on GDP growth and oil price decreases have effect on wage growth, real exchange rate, and inflation. In Ukraine, oil price increases affect wage growth and inflation, and oil price decreases affect real exchange and interest rate. The differences in the responses are due to whether a country is an oil importer or an oil exporter, and the monetary and fiscal policies implemented by these countries. |
| Supervisor | Rabitsch, Katrin |
| Department | Economics MA |
| Full text | https://www.etd.ceu.edu/2009/rahmanov_ramiz.pdf |
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