Hydrocarbon prices shocks, fiscal stability and consolidation: Evidence from Russian Federation

Sohag, Kazi; Sokhanvar, Amin; Belyaeva, Zhanna; Mirnezami, Seyed Reza

doi:10.1016/j.resourpol.2022.102635

Cited by 21 publications

(6 citation statements)

References 34 publications

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“…For the years 2019-2024, the Ministry of finance has identified the following problems that are to be addressed. First, is to reduce the dependence of the Russian economy and the federal budget on the resource rents and to form a sovereign fund for hedging against externally induced-fiscal deficit (Sohag et al, 2022). Eventually, this policy should promote predictability and transparency of fiscal transfers among the Russian regions and the federal budget, which will foster the national wealth.…”

Section: A Distinct Feature Of the Russian Fiscal Structurementioning

confidence: 99%

Untitled

2023

Foresight and STI Governance

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This study aimed to investigate the impact of open data implementation as part of data governance initiatives on entrepreneurial attitudes in Europe and Central Asia. Such has never been determined or investigated in a measurable form. Using regression (OLS) analysis of secondary data on the open data implementation index from the Open Data Barometer (ODB) and the Entrepreneurial Attitude index from GEI, this study investigates the impact of open data implementation (as a national data governance strategy) on entrepreneurial attitudes in Europe and Central Asia. This study introduces a novel approach that advances our understanding of sustainable development goals. The study establishes a causation of the 32% impact of open data implementation on entrepreneurship attitudes toward recognizing opportunities in Europe and Central Asia.This study advocates for the establishment of a comprehensive national open data initiative as a catalyst for fostering entrepreneurial attitudes within Europe and Central Asia. Moreover, it emphasizes the importance for entrepreneurs to cultivate the necessary attitudes for achieving their business objectives successfully. The study recommends further investigation using a recent dataset. The study's findings improve the understanding of how to induce entrepreneurial attitudes in Europe and Central Asia in pursuit of post-pandemic economic development.

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Section: A Distinct Feature Of the Russian Fiscal Structurementioning

confidence: 99%

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2023

Foresight and STI Governance

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“…Clearly, countries' dependence on oil and gas cannot be ignored as they remain critical commodities in the international trade market and crucial resources related to a country's energy security and national strategy at least in the near future. 11,12 On the path to sustainable development, the fossil fuels trade enables energy importers to achieve energy balance and use better quality energy. 13 Developing countries depend on fossil energy trade for their energy balance.…”

Section: Literature Reviewmentioning

confidence: 99%

“…In the last decade, many economies have adopted various measures and policies for reducing emissions via energy transition; 9,10 however, demand for fossil fuels has recently exceeded pre‐COVID‐19 highs. Clearly, countries' dependence on oil and gas cannot be ignored as they remain critical commodities in the international trade market and crucial resources related to a country's energy security and national strategy at least in the near future 11,12 …”

Section: Literature Reviewmentioning

confidence: 99%

What does the clean energy transition look like for Russian oil exports?

Sokhanvar

Sohag

2022

Energy Science & Engineering

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The commitment of governments to achieving the goals of the Paris Agreement and the expected decrease in fossil fuel consumption indicate the importance of studying the risks facing the oil exporters and the range of options and responses. This study adopts the Trade Gravity model to examine the effect of clean energy policies on Russian oil exports during the period 1996-2019. Our results based on Cross-Sectional Autoregressive Distributed Lags modeling suggest that Russian oil exports are negatively affected by the energy transitions. This indicates that investing in cleaner energy technologies as a channel toward reducing fossil fuel demand can reduce the oil trade globally. Policies and strategies to retain and support the financial stability of the Russian government under the current scenario are suggested.

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“…Oil price shocks can affect a wide range of activities, including macroeconomic indicators (Arora & Tanner, 2013; Li et al, 2012; Samargandi et al, 2020; Sohag et al, 2021), stock markets (Bastianin et al, 2016; Ding et al, 2017; Lee et al, 2012; Sohag et al, 2022; Wang et al, 2013). Sadorsky (2001), Boyer and Filion (2007) and Lee et al (2012) amongst others also observed similar findings.…”

Section: Introductionmentioning

confidence: 99%

“…The impact of oil price shocks has been investigated, with a particular emphasis on the effects on different sectors of the economy to identify how each sector responds to the shocks (Lee et al, 2012;Sohag et al, 2021Sohag et al, , 2022. This assumes that sectoral analysis provides more extensive data that can be used to create effective asset allocation and risk management strategies (Arouri et al, 2011).…”

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confidence: 99%

Hydrocarbon price spillover to banking performance in Eurozone

Samargandi

2023

OPEC Energy Review

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The current study investigates the impact of real oil price shocks on the Eurozone banking sector from February 2009 to February 2022, using the Structural Vector Autoregressive method to distinguish the reaction between Eurozone bank indices and three structural indicators in the oil market shocks. The shocks include global oil demand, supply shock, and specific oil market shocks. Our findings show that the banking sector in the Eurozone responds positively toward an oil‐specific demand shock (oil price) in the short run, but it responds negatively in the medium and long run that lasts for a long time. The banking sector, on the contrary, does not react to supply shocks, which provide a significant policy implication for regulators and policymakers.

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Hydrocarbon prices shocks, fiscal stability and consolidation: Evidence from Russian Federation

Cited by 21 publications

References 34 publications

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What does the clean energy transition look like for Russian oil exports?

Hydrocarbon price spillover to banking performance in Eurozone

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